Periodic checkups can keep plans running smoothly and help plan sponsors identify issues early, before those become difficult and expensive to correct. Such audits come in two varieties—transactional audits and operational audits.
The SECURE Act has been signed into law by President Trump. The law’s provisions, most of which go into effect January 1, will affect the way DC and DB plans are administered in 2020 and beyond.
Now poised to pass the Senate, the SECURE Act — as part of Congress’s omnibus spending bill — could be inked by the President as soon as week’s end. It represents the most significant retirement legislation in more than a decade.
Passed by the House with a nearly unanimous margin of 417 yeas to 3 nays this June, and despite holding the consent of 97 of 100 senators, the SECURE ACT may not be passed by the Senate in 2019. Here’s the latest.
Pending legislation could significantly revise the rules for employer-sponsored retirement plans. SBA summarizes key provisions of the bill and their potential impacts on both plan sponsors and participants.