The SECURE 2.0 Act: Things We Now Know

The SECURE 2.0 Act is the most significant retirement plan legislation that Congress has enacted in the past twenty-plus years.  At more than 500 pages long and with more than 90 substantive provisions, it’s not a stretch to say that it may also be the most complicated retirement plan legislation that Congress has passed in many years. 

Despite its impressive length and complexity – or, perhaps, because of it! – the actual text of the SECURE 2.0 Act does not, however, always tell us how the provisions in the Act are supposed to be implemented. Over the past year, the Treasury and IRS have begun to issue guidance filling in many of these statutory gaps.

We will review provisions of the SECURE 2.0 Act that are likely to affect employers over the next several years, with a focus on what we now know as a result of this guidance. Specific provisions that will be addressed include:

• Catch-up contributions
  • “Super catch-up contributions” are on their way, but only for some participants
  • Roth-only catch-up contributions for more highly paid participants – delayed, but still on its way
• Option for matching contributions and non-elective contributions to be provided on a Roth basis
• Participation by “long-term part-time employees” – the rules are complicated and will affect more employers than you might think
• Offering “de minimis” financial incentives for employees to make deferrals
• Option to offer “pension-lined emergency savings accounts” – how complicated could this possibly be?
• New rules for distributions, including
  • “Emergency personal expense” distributions
  • Distributions to terminally ill individuals
• The new dollar threshold for making distributions to former employees without their consent
• Automatic enrollment – new rules, but only for “new plans”
• Plan amendments – timing and what to expect

Attorney Steven Smith will present.

This course will include a packet of materials, including a hard copy of the presentation. We have applied for SHRM, HRCI & CE accreditation. 

When and Where is the Seminar?

Date: Tuesday, May 21

Time: 9:00 am – 10:30 am

Location: Hinkle Law Firm (Wichita Office) and virtual via Zoom

We are excited to welcome you with both an in-person and virtual option. We are mindful that situations may change prior to the event and will communicate with you and adjust accordingly, if necessary. Should you have any questions please don’t hesitate to contact us.

Cancellations will be accepted up to two days prior to the event. You can transfer your registration at any time. If you have questions, please contact Melissa Smith at msmith@hinklaw.com.