This CLE will cover the mandatory changes that most tax-qualified retirement plans must implement under the Setting Every Community Up for Retirement Enhancement (SECURE - passed in 2019), including additional changes made in SECURE 2.0 (passed in 2021)
Key topics to be discussed:
Changes to Required Minimum Distribution Rules
Changes to Catch-up Contribution Rules
Automatic Enrollment Rules
Long-Term, Part-Time Worker Rules
Date / Time: January 25, 2024
Adam Thomas | Best Best & Krieger LLP
Adam Thomas is of counsel and a member of Best Best & Krieger’s Business and Employee Benefits & Executive Compensation practice groups. He has more than 10 years of experience in employee retirement benefits, health and welfare regulations, fiduciary compliance, labor and employment matters for private and public sector employers and collectively bargained, multi-employer trust funds.
Adam works with clients subject to ERISA, and non-ERISA clients including governmental and church retirement plans resolving complex legal issues under HIPAA, the Affordable Care Act, Medicare and Medicaid regulations, COBRA and DOL regulations. Adam also has a deep understanding of various IRS codes and regulations and has represented clients before the IRS through Voluntary Compliance Program.
Adam enjoys guiding non-profit business entities, and their leadership, through all phases of the non-profit lifecycle – design, implementation, tax exempt status registration, ongoing administration, fiduciary compliance, dissolution and liquidation of assets – all to ensure successful maintenance of federal and state tax-exempt status. Adam is passionate about mediating and helping resolve intra-leadership disagreements within nonprofit entities and builds on his experience and passion for conflict resolution.
I. Changes to Required Minimum Distribution Rules | 12:00pm – 12:30pm
• Revised Required Beginning Date
• Reduced RMD Excise Tax Penalty
• Elimination of RMDs in Roth Accounts
• RMD Treatment for Surviving Spouses
II. Changes to Catch-up Contribution Rules | 12:30pm – 1:00pm
• Changes to 401(k) plan catch-up contribution limits
• Changes to 403(b) plan catch-up contribution limits
Break | 1:00pm – 1:10pm
III. Automatic Enrollment Rules | 1:10pm – 1:25pm
IV. Long-Term, Part-Time Worker Rules | 1:25pm – 1:40pm