SECURE Act Archives - RPG Consultants

The SECURE Act Reminders

With so much discussion surrounding the CARES Act, it is easy to forget that 2019 brought us some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006. This legislation came to us by virtue of The Setting Every Community Up for Retirement Enhancement (SECURE) Act that was signed into law on December 20, 2019. While many of the SECURE Act provisions are currently in effect, there are important provisions still to come that plan sponsors should be prepared for in 2021 and beyond.

Marketing2020-11-13T11:24:06-05:00November 13th, 2020|Categories: Newsletters/Bulletins|Tags: Multiple Employer Plan, Pooled Employer Plan, CARES Act, Lifetime Income Disclosure, SECURE Act|Comments Off

Post-PPA (Cycle 3) Plan Document Restatements

Approximately every six years, the IRS requires that pre-approved qualified retirement plans update (or restate) their plan document to reflect recent legislative and regulatory changes. Plan restatements are divided into staggered six-year cycles depending on the type of plan (e.g. defined benefit plans or defined contribution plans, such as 401(k) and 403(b) plans). In Announcement 2020-7, the IRS confirmed that the next restatement cycle for pre-approved defined contribution plans is a 24-month period that began August 1, 2020 and will close on July 31, 2022. This restatement cycle is known as the “Cycle 3” restatement, as it is the third required restatement under the pre-approved retirement plan program.

Marketing2021-02-25T15:02:06-05:00November 13th, 2020|Categories: Newsletters/Bulletins|Tags: SECURE Act, CARES Act, Plan Restatement, Cycle 3 Plan Document Restatements, Retirement Plan Compliance, Post-PPA (Cycle 3)|Comments Off

How the SECURE Act is Changing Retirement

The SECURE Act represents some of the most significant changes to retirement plan law since the passage of the Pension Protection Act of 2006, over thirteen years ago. The provisions of the Act are broad ranging and span many different effective dates.

Marketing2020-02-14T11:16:55-05:00February 14th, 2020|Categories: Newsletters/Bulletins|Tags: Pooled Plan Provider, ERISA, Required Minimum Distributions, RMD, Safe Harbor Plan, SECURE Act, Multiple Employer Plan, MEP, Pooled Employer Plan, PEP|Comments Off