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How SECURE 2.0 Affects Family Attribution Rules

SECURE 2.0 is the hot topic in the retirement industry right now and has been hailed as the most important retirement enhancement legislation in more than a decade. One of the changes effective for plan years beginning after December 31, 2023, reforms the family attribution rules by redefining “employer” for qualified retirement plan (QRP) purposes.

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Voluntary Correction Program (VCP) Considerations

Given the complexity involved in operating a retirement plan, it’s not surprising that from time to time there may be miscues, such as operational, document, or even eligibility failures. Some can be resolved without the direct involvement of the IRS, under the agency’s Self-Correction Program within the broader Employee Plans Compliance Resolution System.  Other failures must—or, if an employer chooses, can—be corrected under the IRS Voluntary Correction Program (VCP).

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How to Handle Complex Beneficiary Scenarios Following Recent Changes

Beneficiary options have become more complex in light of recent guidance, including SECURE Act changes, proposed RMD regulations, and Notice 2022-53. This article may help address some questions that your clients may have.

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