Retirement Regulation

The National Association of Government Defined Contribution Administrators sent a letter to the IRS and the Treasury, urging clarification on age-60 catch-up contributions and plan participation for part-time workers.

There are battle lines forming as the Senate Health, Education, Labor and Pensions Committee prepares for an April 20th hearing on the nomination of Acting Secretary Julie Su, as Republicans have called for her withdrawal.

The mandatory SECURE 2.0 provisions that must be implemented within the next two years are generally action items for human resource and benefits professionals, benefits committees, and recordkeepers.

This massive growth will be fueled by a tight labor market and SECURE 2.0 government mandates – and 401(k)s among employers with less than 100 employees will have equaled coverage among employers of 100+ employees.

Local financial advisors are in the best position to help these small business owners implement the right retirement plan that best fits their needs, budgets and goals.

The DOL is asking Congress for $5 million to establish a dedicated program, led by the Employee Benefits Security Administration, which recovered more than $1.5 billion in lost benefits for missing participants in 2021.