secure act

In-Kind Distribution of Terminating 403(b) Accounts

The IRS has issued a ruling describing the status and tax treatment of certain 403(b)(7) custodial accounts belonging to participants or beneficiaries of terminating 403(b) plans.

FuturePlan ERISA Team

IRS

IRS Guidance

IRA

SECURE Act

Sequel to SECURE Act Introduced

Richard Neal (D-MA) and Kevin Brady (R-TX) have introduced the Securing a Strong Retirement Act of 2020, described as building on major retirement legislation enacted in December 2019.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

SECURE Act

Legislative updates

House Passes Revised Pandemic Relief Bill, Disagreements Remain

The House of Representatives has passed a revised version of the HEROES Act estimated at $2.2 trillion to provide pandemic relief.

FuturePlan ERISA Team

Defined Benefit Plan

Defined Contribution Plan

COVID-19

SECURE Act

Health and Welfare

Washington Pulse: IRS Provides Additional SECURE Act Guidance

IRS Notice 2020-68 provides guidance on the SECURE Act, and on the Bipartisan American Miners Act, which is also part of FCAA.

FuturePlan ERISA Team

Washington Pulse

IRS

SECURE Act

Miners Act

FCAA

Interim Final Rule Published for Lifetime Income Projections

A DOL EBSA interim final rule is published in the Federal Register to guide DC retirement plans that must furnish projections of potential lifetime income streams to participants

FuturePlan ERISA Team

Defined Contribution Plan

DOL

SECURE Act

Senate Vote Fails to Advance Next COVID-19 Aid Package

The Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S.178), did not receive the votes needed to proceed to a final vote on the package.

FuturePlan ERISA Team

529 account

COVID-19

Defined Contribution Plan

Legislative updates

SECURE Act

Senate Vote Expected on Next Coronavirus Aid Package

Senate GOP leadership expected to vote on the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act (S. 178).

FuturePlan ERISA Team

529 account

COVID-19

Defined Contribution Plan

Legislative updates

SECURE Act

IRS Seeks More Forms 5500 Information

The IRS has published a notice offering the opportunity to comment on proposed changes to the information the agency collects on Form 5500, Form 5500-SF, and Form 5500-EZ.

FuturePlan ERISA Team

Defined Contribution Plan

IRS Guidance

SECURE Act

IRS Issues Multi-Subject SECURE Act Q&A Guidance

The IRS has issued Notice 2020-68, guidance in question-and-answer (Q&A) format on provisions of legislation enacted in December 2019 in the SECURE Act.

FuturePlan ERISA Team

Defined Contribution Plan

IRA

IRS Guidance

SECURE Act

Lifetime Income Disclosures: A New Requirement for Pension Benefit Statements

The SECURE Act requires ERISA-covered plans to disclose an estimated monthly payment that participants could receive in a lifetime income stream.

FuturePlan ERISA Team

DOL

SECURE Act

Washington Pulse

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