Some provisions of the SECURE Act took effect mere days after enactment—on January 1, 2020—making implementation difficult. Industry groups have requested that the IRS expedite guidance on the most pressing questions. Here’s the guidance that we have so far: some is explicit and some we can glean through draft instructions for required tax reporting.
Read MoreWhat does the universal availability requirement in 403(b) plans mean? Does the universal availability rule apply to all organizations? How does the employer satisfy the universal availability requirement?
Read MoreUnderstanding the SECURE Act provisions will help you provide the best service possible to your clients. There are certain provisions that will more significantly affect your retirement savings plan business.
Read MoreSaving enough for retirement is difficult for most Americans. Unfortunately, it can be even more difficult for women. By understanding some of the challenges that many women face when it comes to saving, you can help your women clients who may be lagging behind in retirement preparedness catch up and even pull ahead.
Read MoreWhen can employees withdraw money from a 401(k) plan while they are still working? Are there other ways that employees can take out their elective deferrals before age 59½ as a distribution? Can employees take loans from their 401(k) plans?
Read MoreOn December 20, 2019, the President signed into law the Further Consolidated Appropriations Act, 2020, which includes the major retirement savings-related SECURE Act provisions previously passed by the House in April 2019. Many of the provisions will become effective January 1, 2020.
Read MoreAwaiting both House and Senate approval and signature by the President is the Consolidated Appropriations Act, 2020, which contains provisions to fund government operations for the coming fiscal year and includes SECURE Act provisions affecting retirement and individual savings plans.
Read MoreDrawing on its own retirement plan and consumer-directed healthcare account data, Ascensus offers a unique, comprehensive perspective into how Americans are saving for the future.
Read MoreAre your business clients frustrated with low employee participation in their retirement plans? It may be time for them to rethink their eligibility and contribution requirements.
Read MoreMay an individual roll over his 401(k) balance to a Puerto Rico retirement savings plan without tax consequences? May a Puerto Rico plan be moved to a 401(k) plan as a tax-deferred rollover?
Read MoreThe IRS recently released the 2020 cost-of-living adjustments. Many key IRA and retirement plan limits were increased for 2020.
Read MoreOne way that your employer plan clients can turn around low participation rates in their retirement plans—and save more—is by implementing automatic enrollment.
Read MoreThe IRS recently issued a notice of proposed rulemaking for updating life expectancy tables that are used when determining required minimum distributions.
Read MoreThe DOL recently issued proposed regulations intended to make it easier for employers to meet notification requirements when providing electronic retirement plan disclosures to plan participants and beneficiaries.
Read MoreFor the next few months your organization may see an increase in RMD questions and transactions. Take a few minutes now to learn (or relearn) some basic RMD rules.
Read MoreThe U.S. Social Security Administration has announced a cost-of-living increase for 2020 to several of its benefit amounts, including the Social Security taxable wage base.
Read MoreThe IRS recently issued final regulations that make retirement plan assets more accessible to those experiencing financial hardship. Employers should become familiar with the revised hardship requirements.
Read MoreOne way that your employer plan clients can help motivate employees to jump-start their retirement saving and participate in the plan is by spreading the word about the saver’s credit and its benefits.
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