As expected, the SECURE 2.0 Act of 2022 (SECURE 2.0), an extensive piece of legislation aimed at retirement plan reform, is included in the Consolidated Appropriations Act, 2023 (the Spending Bill). The 4,000+ page, $1.7 trillion Spending Bill was released early morning on Tuesday, December 20, with a passage deadline of Friday, December 23. If
RISE and SHINE Act
4th Quarter 2022 Quick Hits for Plan Sponsors and Administrators
By Suzanne G. Odom & Alec Nealon on
Posted in 401(k) plan, ACA, Affordable Care Act, Amendments, CARES Act, Consolidated Appropriations Act, coronavirus, Employee Health & Welfare Plans, Employer Health and Welfare Plan, ERISA, hdhp, HRA, hsa, IRS Guidance, pharmacy benefit Manager, Prescription Drug and Healthcare Spending, Retirement plans, RISE and SHINE Act, SECURE 2.0, SECURE Act
As we enter the fourth quarter of 2022, sponsors and administrators of employee benefit plans have a lot to juggle. From open enrollment and required notices to plan document deadlines, it is a busy time of year. Yet, there always seems to be something new to add to the mix. This year is no different. …
RISE and SHINE – The Senate’s Initial Response to House-Passed SECURE 2.0
By Tia L. Martarella on
On March 29, 2022, the House of Representatives passed the Securing a Strong Retirement Act of 2022 (SECURE 2.0, HR 2954). SECURE 2.0 is a comprehensive bill designed to increase access to retirement savings and includes a variety of provisions that would affect employer-provided retirement plans.
On June 14, 2022, the Senate Health,…