"A mistake in SECURE 2.0 legislation would eliminate both future and existing retirement plan catch-up contributions, though IRS interpretation to keep the rule as intended seems possible."  MORE >>

"[SECURE 2.0] eliminates the requirement for plan sponsors to provide certain notices to eligible but unenrolled employees in defined contribution plans, changes the delivery method plan sponsors must use to furnish benefit statements to participants in retirement plans, and modifies the language required in annual funding notices under defined benefit plans. It also requires agencies to perform significant studies on several notices and report their findings to Congress."  MORE >>

"SECURE 2.0 changes the credit for employers with up to 50 employees for taxable years beginning after 2022. It increases the percentage to 100% of the startup costs. In addition, SECURE 2.0 creates an additional credit based on the amount of employer contributions to plans other than defined benefit plans."  MORE >>

"[SECURE 2.0] introduces a new provision allowing IRA holders aged 70-½ or older to make a one-time qualified charitable distribution to a split-interest entity. This change provides an opportunity for IRA holders to make charitable contributions while retaining lifetime income interests in the underlying funds.... The SECURE Act 2.0 provides that this annual contribution limit is indexed for inflation starting in 2023."  MORE >>

"Before you take an early 401(k) withdrawal, consider: [1] The 10% early withdrawal penalty. [2] The 20% tax withholding for a 401(k) early withdrawal. [3] Income tax due on an early withdrawal. [4] Missed investment growth. [5] Ways to minimize the related costs."  MORE >>

"Two recent decisions ... granting defendants' motions to dismiss in ERISA prudence litigation illustrate emerging themes in these cases: challenges to the standing of plaintiffs who have not actually invested in the funds (or in one case, were not participants in the plan) being targeted; and challenges to the adequacy of the comparators whose allegedly superior performance (or lower cost) is used to 'infer' imprudence." [Singh v. Deloitte LLP, No. 21-8458 (S.D.N.Y. Jan. 13, 2023); Locascio v. Fluor Corp., No. 22-0154 (N.D. Tex. Jan. 18, 2023)]  MORE >>

"[1] You cannot combine your survivor benefits and regular retirement benefits, but you can switch between the two in order to maximize the total combined value you receive.... [2] A complex formula determines how much, if any, of your Social Security income is taxable. Your state may tax your benefits as well.... [3] [T]he Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) may impact your survivor benefits and/or retirement benefits.... [4] [T]here is usually an opportunity to alter your claiming strategy.... [5] While getting remarried may entitle you to new spousal benefits, it could also impact your preexisting survivor benefits."  MORE >>