The long-awaited and much anticipated “SECURE 2.0” is here. Join Mike Barry, Senior Consultant and Speaker for Retirement Learning Center and President of O3 Plan Advisory Services LLC, as he provides an overview of the many aspects of the new retirement-related legislation known as SECURE 2.0.
This bill makes significant changes to most aspects of the retirement environment including expanded contribution limits and credits, enhancements of SIMPLE IRA arrangements, emergency saving account options in 401(k), and matching of certain student loan payments.
In addition, we’ll cover changes to excesses, corrections, RMD and rollover rules. Lastly, the timing, amendment and effective dates of key provisions will be discussed.
– Understand the new 401(k) features including emergency savings accounts, student loan payments, starter 401(k)s, required auto-enrollment features and increased credits and limitation;
– Identify enhanced SIMPLE-IRA features, modifications to 457(b) eligibility requirements and ability to treat employer contributions as Roth amounts;
– Recognize expanded rollover options, additional distribution penalty exemptions, RMD changes;
– Summarize changes to MEP/PEP and Group of Plans rules; and
– Consider the timing and effective dates of the provisions and requirement amendments.
Michael P. Barry, Senior Consultant, Retirement Learning Center
Michael P. Barry is a senior consultant and speaker with the Retirement Learning Center and President of O3 Plan Advisory Services LLC, which provides retirement plan regulatory analysis targeted at plan sponsors and those who provide services to them. O3 PAS publishes analyses of regulatory developments affecting private employer defined benefit and defined contribution plans, focusing on the challenges, opportunities, and consequences for sponsors that regulatory changes present. Mike has had over 40 years’ experience in the benefits field, in law and consulting firms, concentrating on the regulation of private employer DB and DC retirement plans.
Beginning law practice in 1976, the year that the Employee Retirement Income Security Act (ERISA) became effective, Mike has worked with and studied the evolving complexities of regulation in this heavily regulated field. Before founding Plan Advisory Services in 1998, Mike was Managing Director at Bankers Trust and, before that, a New York benefits partner at LeBeouf, Lamb, Greene & McRae. Mike’s book – Retirement Savings Policy – Past, Present, and Future, published by De|G PRESS – was published in 2018.