SECURE 2.0

The Department of Labor has issued Field Assistance Bulletin 2025-02 and accompanying single employer and multiemployer model notices updating notice requirements for defined benefit plans pursuant to Section 343 of SECURE 2.0. 

Senators Katie Britt (R-AL), Raphael Warnock (D-GA), Bill Cassidy (R-LA), and Gary Peters (D-MI), have introduced S.424, the Retirement Fairness for Charities and Educational Institutions Act.

A proposed rule and class exemption issued by the Department of Labor’s Employee Benefits Security Administration providing guidance on ESOP transactions has been withdrawn from publication. 

The Department of Labor’s Employee Benefits Security Administration has issued a proposed rule and class exemption for shares to be acquired by an ESOP pursuant to SECURE 2.0.

The Department of Labor has released Field Assistance Bulletin 2025-01 providing guidance regarding the treatment of small balances of retirement plan missing participants and beneficiaries.

The Internal Revenue Service has released proposed catch-up regulations that apply to certain retirement plans as provided by Sections 109, 117, and 603 of the SECURE 2.0 Act of 2022.

The Internal Revenue Service has released proposed automatic enrollment regulations that apply to certain retirement plans as provided by Sections 101 and 341 of the SECURE 2.0 Act of 2022.

Thanks to the SECURE 2.0 Act, certain employees will have more deferral opportunities beginning in 2025. Read on to learn how much employees can contribute to their retirement plan and about the types of deferrals that may be available. 

The Department of Labor has announced the start of a voluntary information collection to establish and maintain the Retirement Savings Lost and Found database.

Employers may now treat an employee’s qualified student loan payments like elective deferrals or after-tax contributions for purposes of providing an employer matching contribution.