This is the third article on recent IRS “Grab Bag” guidance on certain provisions of SECURE 2.0 (Notice 2024-02). In this blog we explore guidance with respect to SECURE 2.0’s plan startup/contribution incentives. Background SECURE 2.0 includes – Increased startup costs credit: An increase in…
This is the last of the articles on recent IRS “Grab Bag” guidance on certain provisions of SECURE 2.0 (Notice 2024-02). In this article, we’ll cover certain other guidance included in the “Grab Bag” relevant to qualified retirement plans: SECURE 2.0’s new automatic enrollment requirement;…
ERISA consultants at Pentegra regularly receive calls from financial advisors on a broad array of technical topics related to qualified retirement plans, IRAs, and other types of retirement savings and income plans. A recent call with a financial advisor from Nebraska is representative of a…
Pentegra recently received a call regarding a common inquiry related to SECURE Act 2.0 of 2022 (SECURE 2.0). “My client wants to terminate its SIMPLE IRA plan during 2024 and start a safe harbor 401(k) plan as allowed by SECURE 2.0. What types of safe…