Instant Insights Advising, Complying, Providing & Surviving in a SECURE Act World
What advisors, sponsors, and providers need to know about this game-changing retirement legislation.
One group in particular stands to benefit the most from this retirement legislation, according to EBRI modeling.
Next year, small-business clients will have even more options for providing retirement benefits to employees.
The loss of the stretch IRA will be significant -- especially for trusts designated as beneficiaries of retirement accounts.
One development that could spur product innovation would be new guidance from the DOL on the role of annuities in a qualified default investment alternative.
From tricky provisions in Secure Act, to a new fiduciary rule, regulators have their work cut out
Plan sponsors need to be aware of the fine print in the legislation to avoid costly mistakes and compliance issues with the IRS.
Although industry must comply immediately with these provisions, they lack guidance from regulators as to how, the SPARK Institute says.
We asked advisors to give us their take on this sweeping retirement legislation. Here are 15 of the responses.
Also, experts discuss future of annuities, long-term care and Social Security.
With the SECURE Act, there's a very good chance the MEP will become the standard 401(k) solution for all but the largest businesses.
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Let's break it down into 3 primary components.", "byline": "Christopher Carosa", "kicker": "Commentary", "tags": [], "prettyDate": "January 15, 2020", "wordcount": "761", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/christopher-carosa/", "name": "Christopher Carosa" } ], "kickerNode": [ { "uri": "/commentary/", "sectionName": "Commentary" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/01/01-MEPs-multiple-employer-money-employees.jpg", "width": "619", "height": "411" } }, { "uri": "/2020/01/09/so-you-want-to-sponsor-a-pooled-employer-plan-here-are-5-things-to-know/", "title": "So you want to sponsor a pooled employer plan? Here are 5 things to know", "summary": "With the passage of the SECURE Act, you may be considering sponsoring a PEP - if you are, there are 5 things to know now.", "byline": "David Levine and Kevin Walsh", "kicker": "Commentary", "tags": [], "prettyDate": "January 09, 2020", "wordcount": "695", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/david-levine/", "name": "David Levine" }, { "webUrl": "/author/profile/kevin-walsh/", "name": "Kevin Walsh" } ], "kickerNode": [ { "uri": "/commentary/", "sectionName": "Commentary" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/01/multiple-employer-mep-pep-business-people-ceos.jpg", "width": "616", "height": "403" } }, { "uri": "/2020/01/09/industry-cautiously-optimistic-as-labor-prepares-ground-rules-on-open-meps/", "title": "Industry cautiously optimistic as Labor prepares ground rules on Open MEPs", "summary": "SECURE Act's impact on workplace retirement plans will largely depend on guidance and regulations drafted by the DOL.", "byline": "Nick Thornton", "kicker": "Analysis", "tags": [], "prettyDate": "January 09, 2020", "wordcount": "1190", "timeToRead": "6 minute", "readtime": "6", "authors": [ { "webUrl": "/author/profile/nick-thornton/", "name": "Nick Thornton" } ], "kickerNode": [ { "uri": "/analysis/", "sectionName": "Analysis" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/01/US-Capitol-Washington-DC-2016-02-mike-scarcella-alm.jpg", "width": "600", "height": "400" } }, { "uri": "/2020/01/08/secure-act-game-changer-for-estate-planning-with-qualified-retirement-benefits-412-92077/", "title": "SECURE ACT: Game changer for estate planning with qualified retirement benefits", "summary": "The days of careful planning to obtain the maximum life expectancy stretch-out are now over for the beneficiaries of a participant who dies on or after Jan. 1, 2020.", "byline": "Rebecca Rosenberger Smolen and Amy Neifeld Shkedy", "kicker": "Commentary", "tags": [ "canonical:https://www.law.com/thelegalintelligencer/2020/01/02/secure-act-game-changer-for-estate-planning-with-qualified-retirement-benefits" ], "prettyDate": "January 08, 2020", "wordcount": "879", "timeToRead": "5 minute", "readtime": "5", "authors": [ { "webUrl": "/author/profile/rebecca-rosenberger-smolenand-amy-neifeld-shkedy/", "name": "Rebecca Rosenberger Smolen and Amy Neifeld Shkedy" } ], "kickerNode": [ { "uri": "/commentary/", "sectionName": "Commentary" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/01/Smolen-Shkedy-Article-201801091555.jpg", "width": "620", "height": "372" } }, { "uri": "/2020/01/03/3-planning-alternatives-to-stretch-iras/", "title": "3 planning alternatives to Stretch IRAs", "summary": "With SECURE Act's passage, Stretch option are no longer available as an estate planning tool.", "byline": "Nick Thornton", "kicker": "News", "tags": [], "prettyDate": "January 03, 2020", "wordcount": "735", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/nick-thornton/", "name": "Nick Thornton" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2020/01/stretch-money.jpg", "width": "617", "height": "411" } }, { "uri": "/2019/12/23/will-open-meps-pave-way-for-alts-in-401ks/", "title": "Will Open MEPs pave way for alts in 401(k)s?", "summary": "2 things have to happen if Open MEPs prove to be a catalyst to wider use of alternative investments in 401(k)s, says an ERISA attorney", "byline": "Nick Thornton", "kicker": "Analysis", "tags": [], "prettyDate": "December 23, 2019", "wordcount": "705", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/nick-thornton/", "name": "Nick Thornton" } ], "kickerNode": [ { "uri": "/analysis/", "sectionName": "Analysis" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/12/washington-dc-capitol-seal.jpg", "width": "617", "height": "411" } }, { "uri": "/2019/12/18/7-possible-obstacles-to-secure-act-bliss-412-91538/", "title": "7 possible obstacles to Secure Act's future", "summary": "Sure, the House passed it. Going from that to monster retirement plan sales could still be hard.", "byline": "Allison Bell", "kicker": "News", "tags": [ "canonical:https://www.thinkadvisor.com/2019/12/17/7-possible-obstacles-to-secure-act-bliss" ], "prettyDate": "December 18, 2019", "wordcount": "339", "timeToRead": "2 minute", "readtime": "2", "authors": [ { "webUrl": "/author/profile/allison-bell/", "name": "Allison Bell" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/12/trump-diego-m-radzinschi-alm.jpg", "width": "617", "height": "410" } }, { "uri": "/2019/12/19/labor-expected-to-act-quickly-on-open-meps-now-that-secure-is-passed/", "title": "Labor expected to act quickly on Open MEPs now that SECURE is passed", "summary": "The Open MEP provision, which the DOL will need to provide guidance on, could impact existing plan sponsors, not just small businesses.", "byline": "Nick Thornton", "kicker": "Analysis", "tags": [], "prettyDate": "December 19, 2019", "wordcount": "672", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/nick-thornton/", "name": "Nick Thornton" } ], "kickerNode": [ { "uri": "/analysis/", "sectionName": "Analysis" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/12/DOL_headquarters-Michael-A.-Scarcella-ALM-Media-dol.jpg", "width": "616", "height": "372" } }, { "uri": "/2019/12/17/9-industry-reactions-to-secure-act-placement-in-spending-bill/", "title": "9 industry reactions to SECURE Act placement in spending bill", "summary": "The SECURE Act has been attached to the House spending package -- and it appears to be same as the one passed by House in May.", "byline": "Nick Thornton", "kicker": "News", "tags": [], "prettyDate": "December 17, 2019", "wordcount": "1324", "timeToRead": "7 minute", "readtime": "7", "authors": [ { "webUrl": "/author/profile/nick-thornton/", "name": "Nick Thornton" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/12/washington-dc-black-white-shutterstock.jpg", "width": "620", "height": "403" } }, { "uri": "/2019/11/13/will-association-fear-hold-back-401k-meps-carosa/", "title": "Will association fear hold back 401(k) MEPs? – Carosa", "summary": "There's a pot of MEP gold at the end of the rainbow for all parties, but trade associations must take that brave first step to get it.", "byline": "Christopher Carosa", "kicker": "Commentary", "tags": [], "prettyDate": "November 13, 2019", "wordcount": "696", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/christopher-carosa/", "name": "Christopher Carosa" } ], "kickerNode": [ { "uri": "/commentary/", "sectionName": "Commentary" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/11/gold-eggs-shared-MEP-401k.jpg", "width": "617", "height": "411" } }, { "uri": "/2019/10/22/aalu-highlights-secure-acts-child-unearned-income-provision-412-88979/", "title": "SECURE Act provision could help Gold Star families: AALU", "summary": "The provision could reduce the taxes of children of service members who die in combat.", "byline": "Allison Bell", "kicker": "News", "tags": [ "canonical:https://www.thinkadvisor.com/2019/10/21/aalu-highlights-secure-acts-child-unearned-income-provision" ], "prettyDate": "October 22, 2019", "wordcount": "765", "timeToRead": "4 minute", "readtime": "4", "authors": [ { "webUrl": "/author/profile/allison-bell/", "name": "Allison Bell" } ], "kickerNode": [ { "uri": "/news/", "sectionName": "News" } ], "primaryCategory": { "channelName": "", "sectionName": "", "uri": "" }, "image": { "uri": "https://images.benefitspro.com/contrib/content/uploads/sites/412/2019/10/cadin-marc-616x372-AALU.jpg", "width": "616", "height": "372" } } ], "navigations": [], "sponsors": [] } }