Explore Fred’s latest insights on fiduciary responsibility, ERISA developments, retirement policy, regulatory guidance, and the evolving landscape of financial and retirement services.
Key Takeaways The SECURE Act 2.0 required that “new” 401(k) and private sector 403(b) plans automatically enroll their eligible employees, but not until plan years beginning after December 31, 2024…just days ago. “New” plans include most that were established on or after the enactment date of SECURE 2.0—December 29, 2022.
As some of you all know, I have asked ChatGPT to write lyrics for retirement songs…because I co-host a podcast on retiring. However, this time I asked it to write a Christmas carol, and it did. Enjoy! Also, regardless of what holy day you honor, or if you don’t honor
Key Takeaways SECURE Act 1.0 required that long-term, part-time (LTPT) employees be allowed to defer into 401(k) plans beginning January 1, 2024 for calendar year plans. However, plan sponsors are not required to contribute for them. LTPT employees for SECURE 1.0 are those who have worked at least 500 hours
Key Takeaways Over 11,000 people are reaching age 65 every day and most have retired or are contemplating retirement. Many of those retirees will rollover money from retirement plans, including 401(k) plans, into IRAs. The IRA investments will need to provide sustainable retirement income for the lifetimes of those retirees,
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments. See the newest episode, The 2024 Election
Key Takeaways The SECURE Act 2.0 required that “new” 401(k) and private sector 403(b) plans automatically enroll their eligible employees, but not until plan years beginning after December 31, 2024…just weeks from now. “New” plans include most that were established on or after the enactment date of SECURE 2.0—December 29,
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