SECURE 2.0 Plan Sponsor Year-End Compliance: Plan Amendments, Operational Compliance, Contributions, Distributions

BARBRI

This CLE webinar will provide employee benefits counsel with a comprehensive analysis of SECURE 2.0 year-end compliance challenges for employer-sponsored retirement plans. The panel will discuss required steps and compliance stemming from SECURE 2.0, navigating participant contributions and distributions, necessary plan amendments, plan contracts, vendor fees and services, and new compliance requirements. The panel will also discuss other key items impacting retirement and health and welfare plan administration and compliance.

Description

The end of any plan year is crucial for sponsors and administrators of retirement plans. SECURE 2.0 regulations and other changes complicate plan administration and compliance. Employee benefits counsel must recognize critical year-end compliance issues and requirements.

SECURE 2.0 contains several provisions that significantly impact plan administration and compliance with existing guidance and other issues for the end of 2023 and preparing for 2024. Some plans will have to adopt amendments to comply with certain rules, safe harbors, and other items. In addition, enhanced and strict participant notice requirements, required minimum distributions, loan procedures, and other challenges add a layer of complexity for plan sponsors and administrators that should be areas of focus for a year-end compliance review.

Listen as our panel discusses the required steps and compliance stemming from SECURE 2.0, navigating participant contributions and distributions, necessary plan amendments, plan contracts, vendor fees and services, and new compliance requirements.

Outline

1. Overview of the impact of SECURE Act 2.0 on employee benefits
2. Plan administration and compliance challenges
3. Plan distributions, withdrawals, and loans
4. Recognizing plan document defects and correcting areas of noncompliance
5. Other key items and best practices for plan design and implementation
6. Best practices for maintaining compliance

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