TRA MAKES NEWS HAPPEN

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  SECURE Act 2.0 Webinar and Summary

  January 31, 2023 - This bill makes significant changes to most aspects of the retirement environment including expanded contribution limits and credits, enhancements of SIMPLE IRA arrangements, emergency saving account options in 401(k), and matching of certain student loan payments. In addition, we'll cover changes to excesses, corrections, RMD and rollover rules. Lastly, the timing, amendment and effective dates of key provisions will be discussed. Continue
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  CASE OF THE WEEK – Mandatory Automatic Enrollment—Is My Plan Grandfathered?

  January 27, 2023 - Because your client did not establish the company’s 401(k) plan on or before 12/29/2022, it does not qualify for the grandfathered exemption. Therefore, your client will have to incorporate the EACA described above by the 2025 plan year unless, of course, one of the other exemptions applies. Continue
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  Key Takeaways from SECURE 2.0

  January 24, 2023 - SECURE 2.0 makes many changes to 401(k) plans. Overall, these changes enhance the 401(k) experience for millions of participants. Features such as matching student loan payments, emergency savings accounts and Tax Saver Credit contributions will help middle and low income participants augment their retirement savings and ultimately their retirement security. In addition, plan sponsors are given additional flexibility in making plan corrections and increased tax credits for startup plans. Continue
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  CASE OF THE WEEK – CalSaver’s Plan and Federal Plan Startup Tax Credit

  January 20, 2023 - A CalSaver’s plan is a payroll deduction Roth IRA—completely employee funded. It is not considered a qualified retirement plan that would preclude a small employer from being eligible to claim the federal plan startup credit if the employer is otherwise eligible and establishes a SEP, SIMPLE or qualified plan. Continue
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  Plan Sponsors Ask…

  January 17, 2023 - Question: Our company is growing rapidly and so is our retirement plan. We are interested in hiring a plan advisor. When it comes to providing fiduciary support, what can we expect? Answer: From a plan sponsor perspective, the act of hiring a fiduciary advisor is a fiduciary act, and one the sponsor should conduct thoughtfully. While fiduciary services vary by advisor firm, here are the... Continue
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  Plan Sponsors Ask…

  January 13, 2023 - Study identifies how a range of protected retirement solutions fit with approaches to retirement planning, and how often consumers and financial professionals consider or use annuities in addressing different income approaches and needs. Continue
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  CASE OF THE WEEK – 403(b)s and CITs—Yes or No?

  January 13, 2023 - While amendments pursuant to SECURE Act 2.0 allow 403(b) plans to invest in CITs from the IRS’s perspective, SEC rules still prohibit such investing practices at this time. Continue
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  10 Things You Need to Know About SECURE 2.0

  January 6, 2023 - This brief highlights ten key elements of the just-passed Secure Act 2.0 that will impact workplace benefits and retirement plans. Continue
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  CASE OF THE WEEK – Group of Plans Audit Requirement

  January 6, 2023 - The SECURE Act created a consolidated Form 5500 filing option for GoPs beginning with the 2022 plan year. The devil is in the details, as they say, and the industry anxiously awaits them. Continue
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  It’s Official: SECURE 2.0 Is The Law

  January 3, 2023 - The final bill contains measures on student loan matching, 403(b) improvements, tax credit incentives, emergency savings and a plan lost and found. Continue