The House recently passed the most significant piece of proposed retirement plan legislation in more than a decade: the SECURE Act. Although the Senate must also approve the bill before it becomes law, its proposed changes have considerable bipartisan support in Congress. Plan sponsors should start considering how changes included in the SECURE Act could impact their retirement plans. Employers who do not currently offer retirement plans should also review the new retirement plan incentives included in the proposed legislation.
Bipartisan Bill Paves the Way for Significant Retirement Plan Reforms
By Lisa Loesel and Sarah L. Engle on June 4, 2019
Tags: 403(b) custodial accounts, automatic enrollment, Department of Labor, DOL, income tax credit, lifetime income, MEP, multiple employer plan, Nondiscrimination Testing, nonelective contributions, plan withdrawals, post-death RMD rules, required minimum distribution payments, RESA, Retirement, Retirement Enhancement and Savings Act, Retirement Enhancement and Savings Act of 2019, retirement plan legislation, Retirement Plans, retirement savings, retirement security, RMD payments, safe harbor plans, SECURE Act, Setting Every Community Up for Retirement Enhancement Act, Setting Every Community Up for Retirement Enhancement Act of 2019, small employers, standard of living, United States, US, US House of Representatives, US Senate
Lisa LoeselLisa Loesel focuses her practice on employee benefits matters, including the design, amendment and administration of pension and 401(k) plans, nonqualified deferred compensation arrangements, and employee stock ownership plans. She counsels privately and publicly held corporations regarding the employee benefits design and transition matters arising from corporate mergers, acquisitions and divestitures. She also advises clients regarding fiduciary and plan investment issues under the Employee Retirement Income Security Act of 1974 (ERISA). Lisa also has experience counseling plan fiduciaries with respect to the claims and appeals procedures under ERISA. Read Lisa Loesel's full bio.
Sarah L. EngleSarah Engle focuses her practice on employee benefits matters. She counsels clients regarding a variety of issues, including the design, drafting and operation of tax-qualified pension and profit sharing plans, health and welfare arrangements, and deferred compensation plans. Sarah has experience advising clients on employee benefits design, implementation and transition matters arising in connection with corporate mergers and acquisitions. Read Sarah Engle's full bio.
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