The SECURE Act 2.0: The Most Impactful Provisions #14 — Automatic Portability for IRA Force-outs
Key Takeaways Current law permits plans to force out distributions of accounts with less than $5,000 in benefits if a departed employee does not affirmatively elect to receive his or her benefits. (That amount is increasing to $7,000 in 2024.) The “force-out” amounts must be rolled over into an IRA if the account balance is […]