SECURE Act 2.0 corrections
- Industry efforts are underway to tie up some loose ends within the most recent retirement legislations
- Deem terminal illness as a new distribution trigger
- Clarification on existing plans and retaining grandfather status when joining a MEP/PEP*
- Clarification on if student loan repayment match includes catch-up limits
*Multiple employer plan (MEP), pooled employer plan (PEP)
Anticipated retirement legislation
- Future reforms could simplify and expand retirement plan options such as:
- Incentives for small employers
- Roth IRA to 401(k) rollovers
- Cash balance plans
- Anticipated regulatory shifts on the DOL fiduciary ruling may occur.
- Likely to propose a new version of the ESG ruling limiting fiduciaries’ ability to prioritize environmental, social, and governance (ESG) factors.
- Worker classification rule could be retooled.
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