Please join us as Andrea Powers reviews the sweeping changes made to retirement plans by the SECURE Act 2.0 and the impact of the U.S. Department of Labor (DOL) spotlight on employer fiduciary compliance for health plans.
While many of the SECURE 2.0 changes won't be effective for a few years, beginning in 2024 employees earning over $145,000 will only be able to make catch-up contributions with after-tax dollars (Roth). This change will adversely affect many employers' nondiscrimination testing and the ability of those age 50+ to save sufficiently for retirement. As part of the Consolidated Appropriations Act of 2020 (CAA), Congress focused ERISA fiduciary attention on health plans with the result that the DOL is imposing a number of fiduciary requirements on plan sponsors, including the elimination of gag clauses in their service provider agreements. What are employers supposed to do if their vendors refuse to comply? Join us for the 60-minute webinar as we discuss these timely topics.