Both single-employer plans and multiemployer plans will get help with funding.
The bill would also extend funding relief for single-employer defined benefit plans.
It also provides a way for retirement plan sponsors to avoid a partial plan termination.
The SECURE Act's provisions for pooled employer plans (PEPs) did not apply to 403(b) plans.
Retirement plan advisers were given ideas to consider and actions to take in response to new legislation, regulation and litigation.
The model notices have been updated to reflect changes made by the SECURE Act.
The list, updated with provisions of the SECURE Act, identifies matters that may involve either mandatory or discretionary plan amendments depending on the particular plan.
The agency says future guidance will be like that under the Katrina Emergency Tax Relief Act of 2005 (KETRA) to the extent the provisions of Section 2202 of the CARES Act are substantially similar to the provisions of KETRA that are addressed in that notice.
A bill introduced in the House of Representatives would increase 415 annual addition and 402(g) elective deferral limits for the 2020 calendar year.
Retirement plan professionals who have navigated a severe natural disaster in their region will recognize many of the retirement plan-focused relief provisions to be implemented by Congress.
The retirement plan-focused provisions passed by the Senate last night are among many meant to ease the financial pressures posed by the coronavirus pandemic.
Recordkeepers expect the volume of loans, hardships and withdrawals will increase in coming weeks and months.
Advisers will play an important role in helping plan sponsors perform their due diligence and helping participants accept annuities.
Bradford P. Campbell, with Drinker Biddle, recently discussed specific requirements for open MEPs, now called pooled employer plans (PEPs), included in the SECURE Act.
The majority of the law’s provisions are effective for plan years beginning after 12/31/2019, so preparations should already be underway.
Past news coverage reveals some of what's ahead for the retirement plan industry now that the SECURE Act has been passed.
The Senate voted Thursday to approve appropriations legislation that has subsumed the SECURE Act, after the House approved the same measure on Tuesday.