3 ways the SECURE Act affects company retirement plans

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Most benefits executives by now are aware that the SECURE Act has become law. As expected, there are pros and cons to the new legislation, but it’s the details in this wide-ranging act that could trip up retirement plan sponsors if they don’t review the fine print.

The SECURE Act (which stands for Setting Every Community Up for Retirement Enhancement) contains a wide variety of provisions, many of which are aimed at simplifying issues that have incensed individual taxpayers and plan sponsors for years. Other sections of the law are designed to enhance the adoption of retirement plans by employers that currently don’t have one so more American workers can save for the future.