TRA MAKES NEWS HAPPEN

• ▾

  BREAKING NEWS – IRS and DOL Issue Guidance on Pension-Linked Emergency Savings Accounts

  February 26, 2024 - The Internal Revenue Service (“IRS”) and Department of Labor (“DOL”) recently released coordinated guidance on Section 127 of the SECURE 2.0 Act (“SECURE 2.0”), which established pension-linked emergency savings accounts (“PLESAs”), a discretionary plan provision that may be offered for plan years beginning on or after January 1, 2024. The IRS issued Notice 2024-22 (the “Notice”), providing initial guidance on the anti-abuse rules, and the DOL released “Frequently Asked Questions: Pension-Linked Emergency Savings Accounts” (“FAQs”), providing guidance in the form of questions and answers relating to the general applicability of PLESAs. Continue
• ▾

  CASE OF THE WEEK – Nongovernmental 457(b) Plans and Rollovers … The Two Don’t Mix

  February 23, 2024 - Nongovernmental 457(b) plan distributions are not eligible for rollover. In some cases, amounts could be transferred to another tax-exempt 457(b) plan if certain conditions are met. Continue
• ▾

  Plan Sponsors Ask…

  February 20, 2024 - Explore recent studies shedding light on the services plan sponsors value most from their advisors. Stay informed about industry trends to enhance the effectiveness of your partnership and ensure your priorities align with the valued services in the evolving landscape of retirement planning. Continue
• ▾

  CASE OF THE WEEK – State and Local Plans for Public Employees—Are They Protected?

  February 16, 2024 - Discover how public pensions are protected in all 50 states, despite limited federal involvement. Uncover the nuances between state plans, necessitating expertise in pension law and investment theories for effective navigation. Continue
• ▾

  Plan Sponsors Ask…

  February 13, 2024 - Explore the potential benefits of integrating the SECURE 2.0 provision, enabling employers to make matching contributions linked to student loan repayments. Engage in preliminary discussions with your recordkeeper and seek available data to assess the value of this innovative offering for your employees. Stay informed about the impact on employee financial wellness and make data-driven decisions as you navigate the evolving landscape of employer-sponsored benefits. Continue
• ▾

  CASE OF THE WEEK – Long-Term Part-Time Employees and Liberal Plan Entry

  February 9, 2024 - Discover how in 2024, the first LTPTEs gained eligibility for 401(k) participation. Uncover how plans with more flexible criteria bypass LTPTE regulations. Continue
• ▾

  The American Way

  February 6, 2024 - As a responsible plan sponsor, it's crucial to assess your investment menu relative to industry peers. In leveraging your retirement plan for recruitment and retention, ensure competitiveness in the benefits you offer. Aligning with fiduciary standards is imperative, acknowledging that a one-size-fits-all approach doesn't apply to investment lineups. Explore Vanguard's How America Saves 2023 report for a comprehensive overview of investment menu offerings, participant usage, and emerging trends nationwide. Use this valuable resource in your ongoing investment review meetings with advisors to maintain competitiveness and cater to the diverse needs of your employees. Uncover key insights from the 2023 study for informed decision-making. Continue
• ▾

  CASE OF THE WEEK – Suspending Social Security Retirement Benefits

  February 2, 2024 - Navigating the complexities of suspending Social Security retiree benefits can be challenging. While you can accumulate delayed retirement credits through suspension, factors like family benefits and Medicare considerations add layers to the decision-making process. If you're considering suspending your retiree benefits, it's crucial to consult with a knowledgeable tax and/or legal advisor for expert guidance. Continue