Retirement plan sponsors have much to consider in the wake of reforms enacted last December by the Setting Every Community Up for Retirement Enhancement (SECURE) Act (PL 116-94). Bipartisan congressional interest in passing a new round of “next generation” retirement reforms remains high, although the challenges of a divided government, limited legislative vehicles and a short election-year legislative calendar make the outlook uncertain. Efforts to find agreement on how to help severely underfunded multiemployer plans will continue, though a deal is not expected this year.
With many SECURE Act reforms effective already, the Department of Labor (DOL) and IRS will likely focus on providing quick guidance and implementing regulations in 2020. Those efforts could further delay some other items that have been on the agencies’ regulatory agendas for years.
This article examines legislative and regulatory trends so plan sponsors can anticipate changes. Download the 10-page print-friendly PDF to get all the details.