The Broker Innovation Lab celebrates brokers and other benefits stakeholders who have embraced the changing marketplace to position themselves and their business for future success
With the passage of this landmark legislation, significant administrative guidance on changes to retirement plans will be forthcoming from the IRS and the DOL, but here is a preliminary summary of the most relevant changes.
The question is not whether the new legislation impacts plan sponsors, it's which of the more than 90 provisions apply to them and when do they take effect.
With the recent passage of SECURE Act 2.0 and the IRS' release of substantially higher contribution limits for 401(k)s, small employers are only just beginning their journey to design and offer robust retirement benefits.