The Employee Benefits Security Administration of the Department of Labor (DOL) recently released a proposed regulation on automatic portability transactions under SECURE 2.0 Act of 2022. The goal of automatic portability transactions is to help workers keep track of their retirement savings accounts and improve retirement security by reducing cash-outs when they change jobs. Read More
The Internal Revenue Service has issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs). Authorized under the SECURE 2.0 Act of 2022, PLESAs are individual accounts in defined contribution plans. Read More
Notice 2024-2 provides additional guidance on several provisions of Secure 2,0 Act. This notice provides guidance in the form of questions and answers with respect to certain provisions of the SECURE 2.0 Act of 2022. Read More
The Internal Revenue Service issued a Proposed Rule that would amend the rules applicable to plans that include cash or deferred arrangements under section 401(k) to provide guidance with respect to long-term, part-time employees. Read More