Retirement Plan Distributions Under SECURE 2.0: New Penalty-Free Options, Hardship Distributions, Documentation

BARBRI

This CLE webinar will provide ERISA counsel, plan sponsors, and employers guidance on new retirement plan distribution options under SECURE Act 2.0 and key challenges for ERISA compliance. The panel will discuss key provisions of the SECURE Act 2.0 and its impact on retirement plan distributions and documentation requirements, as well as offer methods to ensure compliance for plan sponsors.

Description

SECURE 2.0 contains several provisions that significantly change qualified retirement plan design and operations. ERISA attorneys, plan sponsors, and employers must recognize the impact of SECURE 2.0, new distribution options for retirement plans, and other opportunities and challenges stemming from the new regulations.

SECURE 2.0 undoubtedly presents administrative and compliance challenges for plan sponsors and employers. It expands distribution options, including new penalty-free distributions and new options relating to hardship distributions, which aren't without their own requirements and compliance challenges. Counsel must be aware of these distribution options, the necessary documentation, and requirements for adopting formal plan amendments.

In addition, SECURE 2.0 includes significant rule changes impacting withdrawals and loans and provisions impacting pooled employer plans, multiple employer plans, and groups of plans.

Listen as our panel discusses the key provisions of SECURE 2.0 and its impact on retirement plans, new plan distribution options, and adopting formal plan amendments, as well as offers best practices for ERISA compliance for plan sponsors and employers.

Outline

1. Overview of the impact of SECURE Act 2.0 on employee benefits

2. Plan administration and compliance challenges

3. Plan distribution options, withdrawals, and loans

4. Other key items and best practices for plan design and implementation

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