The SECURE Act* makes significant changes to employer-sponsored retirement plans and many of the changes take effect immediately. Highlights of the provisions of the SECURE Act that are effective in 2020 include:
- Raising the requirement minimum distribution age
- Changing the post-death distribution rules
- Increasing the 10% cap for automatic enrollment 401(k) safe harbor plans
- Permitting portability of lifetime income options
- Permitting penalty-free withdrawals in the case of birth or adoption of a child
- Increasing penalties for failure to file retirement plan returns (Forms 5500)
Join the Williams Mullen Employee Benefits Section in a webinar to help plan sponsors sift through the changes in the SECURE Act.
*Setting Every Community Up for Retirement Enhancement Act, signed into law on December 20, 2019.
Stephanie Simpson | firstname.lastname@example.org
This webinar is for information purposes only and does not constitute legal advice nor automatically form an attorney-client relationship with participants.