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The SSRA: What’s Not to Like?

…Ranking Member Kevin Brady (R-TX), the SSRA contains provisions that are pro-retirement plan, pro-plan participant, and pro-plan sponsor. The bill builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 to further improve workers’ long-term financial wellbeing. “Covid-19 has only exacerbated…

The Importance of Retroactive Adoption of Retirement Plans

Implicit in planning for retirement is looking ahead. But thanks to the SECURE Act and the Internal Revenue Service (IRS), it can pay to look to the past as well. The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 allows an employer…

2020: The Year That Was

…few of those events that helped make this such an extraordinary year. To truly assess 2020, we actually need to go back to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was signed into law on December 20, 2019. This has truly…

A Different Kind of GoP

While Pooled Employer Plans (PEPs) and Multiple Employer Plans (MEPs) got the lion’s share of attention last year with the passage of the SECURE Act (Setting Every Community Up for Retirement Enhancement) – and understandably so – another type of plan is also gaining traction…

Not So PEPpy? Think Group of Plans

Despite predictions by some that 2021 would begin with an explosion of Pooled Employer Plans (PEPs) as a result of the passage of the SECURE Act (Setting Every Community Up for Retirement Enhancement), that does not seem to be the case, so far. Certainly there…

The SECURE Act Has Finally Passed – What Does It Mean? (Part Two)

Continuing a look at some of the other major provisos in the recently passed Setting Every Community Up for Retirement Enhancement (SECURE) Act, I would like first to discuss its change in how compensation for some health care workers is treated. Many such workers do…

That’s Why They Invented (Virtual) Erasers

…Significant changes and revisions which may be beneficial to plan sponsors, participants and the retirement plan community. Highlights include: Overpayment correction options: Expanded correction principles to allow plan sponsors to fix operational failures when plan participants or beneficiaries receive payments from defined benefit plans that…

Pensions, Retirement and Markets: Five Questions for 2020

…enacted-while considered less strict than the DOL Conflict of Interest Rule, would strengthen protections versus older fiduciary standards. 4. How will the SECURE Act affect the retirement industry? After months of remaining in limbo in the Senate, the U.S. Congress passed the Setting Every Community

Why Non-Profits Should Embrace the 403(b) MEP

…associations can offer its employees a solid retirement plan, much like the better-known 401(k) … in effect, taking care of people within their organization while simultaneously continuing on their philanthropic mission. Associations of 403(b) sponsors come together with a sense of community. Non-profit employers are…

The SECURE Act Has Finally Passed – What Does It Mean? (Part One)

The recent passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act is rightly the cause of celebration throughout the retirement planning industry. As the most significant retirement plan legislation in more than a decade, the SECURE Act (“SECURE” or the “Act”) contains…

Second Thoughts About the SECURE Act

It has been crystal ball-gazing time since the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 passed the U.S. House of Representatives by a nearly unheard-of 417-3 vote earlier this year. At first it seemed a given that the bill would easily…