Retirement Plan Administrator Bates & Company Winter Park FL

►View More Jobs

►Post a Job

►Get Instant Job Alerts

Regulating Conflicted Advice: Is The Rulemaking Process Working?
RECORDED
fi360

►See 103 Upcoming Webcasts and Conferences

►See 1423 Recorded Webcasts

New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics, Grouped by Forum

[Guidance Overview]

Summary of the SECURE Act (PDF)

"The SECURE Act requires employers to allow long-term part-time employees to participate in the elective deferral portion of their 401(k) plans so long as the employee works three consecutive 12-month periods with at least 500 hours in each period.... [T]he SECURE Act amends ERISA to require defined contribution plans to provide participants with an annual benefit statement that includes a 'lifetime income disclosure.' "

Roberts & Holland LLP

[Guidance Overview]

SECURE Act Brings Major Changes to Retirement and Estate Planning

"The repeal of the maximum age ... [allows] higher earners beyond age 70-1/2 to make non-deductible contributions to a traditional IRA and then convert the non-deductible contributions tax-free to a Roth IRA.... Elimination of the stretch provision may materially impact estate plans incorporating 'pass-through' trusts for younger beneficiaries designed to restrict access to the funds and limit the tax impact of RMDs."

Hodgson Russ LLP

[Guidance Overview]

Important Changes to Retirement Accounts Will Be Effective January 1, 2020

"The [SECURE] Act makes significant changes to IRA, 401k, and all other types of qualified retirement accounts. Some of the new rules will directly affect how individuals manage Retirement Accounts and, just as importantly, how certain beneficiaries inherit Retirement Accounts.... [T]he new rules ... call for an immediate review of beneficiary designations and estate plans to determine the actual impact of these significant changes."

Tucker Ellis LLP

[Guidance Overview]

SECURE Act Provisions Which May Affect Governmental Plans

"[1] Modification to Required Minimum Distribution rules ... [2] Required Beginning Date ... [3] Repeal of maximum age for traditional IRA contributions ... [4] Plan loans ... [5] Portability of lifetime income options ... [6] Treatment of custodial accounts on termination of Section 403(b) plans ... [7] Withdrawals for individuals in the case of birth or adoption ... [8] Treatment of difficulty of care payments as compensation ... [9] Fiduciary safe harbor for selection of lifetime income provider ... [10] Increase[d] failure to file penalties."

Ice Miller LLP

[Guidance Overview]

IRS Issues 2019 Required Amendments List

"The 2019 Required Amendments List addresses the final regulations relating to hardship distributions. The proposed regulations regarding hardship withdrawals were included on the 2016-2019 Operational Compliance List, last updated by the IRS on March 26, 2019, as an item effective in 2019. These amendments are applicable to certain 401(k) and 403(b) plans and are applicable to governmental 401(k) plans."

Ice Miller LLP

What Age Should You Start Saving for Retirement? Here's the Average

"The average American begins funding a nest egg at age 31, and what that may seem like a good time to start focusing on retirement, if you wait that long, you'll risk losing out on years of valuable investment growth."

USA TODAY

Creating Total Compensation Offerings for Managing Multiple Generations

"Now that multiple generations exist in the workforce, all with varied attributes and differences, a one-size-fits-all total compensation approach should no longer be considered. These new approaches must also be cost-effective, compliant and competitive."

Corporate Compliance Insights

SECURE Act: Will Self-Employed Persons Be Able to Make Retroactive 401(k) Deferrals in 2020?

"The SECURE Act permits retroactive adoption of qualified plans during an employer's tax return filing period beginning with 2020 tax years. Obviously can't include retroactive 401k deferrals for corporate employees receiving W-2s. But given the long running debate over the 'deadline' for self-employed persons (proprietors and partners) to make 401k deferrals, has anyone considered whether the new provision will allow self-employed to make retroactive 401k deferrals? For example, some practitioners take the position that 401k deferrals can't be elected or deposited until the amount of self employment income has been determined which can be as late as the extended due date for the tax filing. So could a 'solo K' be adopted by a proprietor on 10/15/2021 to create a 2020 tax deduction?"

BenefitsLink Message Boards

How to Handle Unwanted Life Insurance Policies During a Plan Merger

"In the event an employer wants to merge a prior plan that contained life insurance policies in the accounts of its participants into a successor plan that does not permit life insurance, what options does the client have in regards to those life policies?"

BenefitsLink Message Boards

► Subscribe to the BenefitsLink Message Boards Digest -- a free daily email of all new discussions (not just the selected few shown above). View a sample issue.

Most Popular Items in the Previous Issue

How Will the Repeal of Stretch IRAs Affect Estate Planning?
Thompson Coburn

Inheriting a Parent's IRA or 401(k)? Here's How the SECURE Act Could Create a Disaster
MarketWatch

SECURE Act Changes Retirement Plan Requirements
Thomson Reuters Practical Law