First SECURE, Then CARES. What’s Next, 2020?
How to Navigate These Uncharted Financial Waters without Swamping Your Boat
By Jodie Norquist
Helping clients to navigate complex rules and regulations as they save for retirement has always been a tricky endeavor. And if 2020 has taught us anything so far, it’s this: As soon as you think you’ve found the answers, the questions will inevitably change.
On January 1, the most extensive changes to retirement savings in more than a decade became law. The Further Consolidated Appropriations Act, 2020 (FCAA) contained significant retirement provisions, including the Setting Every Community Up for Retirement Enhancement (SECURE) Act.
Three months later, as financial organizations scrambled to interpret IRS guidance and implement these sweeping requirements, the coronavirus pandemic paralyzed the country—and the world—with rippling effects felt throughout the retirement services industry. In response, Congress passed in late March extensive relief within the Coronavirus Aid, Relief, and Economic Security (CARES) Act to assist the millions of Americans affected by the outbreak. The legislation included multiple provisions that affect retirement and health savings arrangements.
Where do we go from here? What changes do your clients need to be aware of in this ever-changing economic landscape? How do you help them remain financially healthy and above water so they may land safely ashore at their retirement destination?
Now Is the Time to Invest in Training
It can be difficult to keep pace in a typical year with all the changes that affect the retirement savings industry. While the future remains uncertain, the time to invest in training and education is right now.
Ascensus offers both online and onsite education and training in all facets of the changing retirement, health, and education savings plan industry. While working from the office or at home, you and your team can earn CE credits and maintain industry-recognized designations. Strengthen your IRA knowledge base by becoming a Certified IRA Specialist (CIS) through IRA University or by completing HSA University, earning your accredited Certified Health Savings Professional (CHSP) designation in just 75 minutes a week over five weeks. Ascensus offers a wealth of learning formats that are flexible to fit your schedule, including in-depth compliance webinars and other curriculum within our large self-paced eLearning library.
Visit Ascensus.com/academy to learn more about our courses, or scroll through our education catalog.
