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Recordkeepers to defined contribution plans are asking regulators for as immediate-as-possible guidance on provisions of the SECURE Act that became effective with the New Year.
"Our members are being deluged with questions from plan sponsors," said Tim Rouse, executive director of the SPARK Institute, which advocates for recordkeepers and other providers to retirement plans.
Many of the core provisions in the SECURE Act, such as new regulations on Open Multiple Employer Plans, will need substantial regulatory input from the Labor and Treasury Departments. But Open MEPs won't be available to the market until 2021.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
