SECURE 2.0 Highlights: Expanding Automatic Enrollment
Help clients understand how IRS Notice 2024-02 clarifies automatic enrollment requirements under SECURE 2.0, including how plan establishment dates, mergers, and spin-offs affect compliance. Explore what qualifies as a pre-enactment plan and how these rules apply to 401(k), 403(b), and starter plans.
- Determining Plan Status: Help clients assess whether their plan is exempt from automatic enrollment based on its establishment date—even if the effective date is later.
- Navigating Mergers and Spin-Offs: Advise clients on how plan consolidations or separations affect pre- or post-enactment status and the resulting compliance obligations.
- Applying Rules to Plan Types: Clarify how automatic enrollment mandates apply to starter 401(k) and safe harbor 403(b) plans to support informed plan design decisions.
In this episode of our SECURE 2.0 Highlights video series, we clarify the intricacies of mergers and spin-offs within the retirement plan landscape. We also define the crucial timing for establishing qualified cash or deferred arrangements, providing essential guidance for plan administrators. This episode is key for anyone who wants to navigate the complexities of retirement plan management with confidence.
For an in-depth understanding of the SECURE 2.0 Act, visit Ascensus' dedicated resource center.
Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that help more than 15 million people save for a better future.
The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Our platforms, industry knowledge, and data-based insights enhance the growth and success of our partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.
Ascensus offers comprehensive qualified and non-qualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services. The company’s brands include Ascensus; Newport, an Ascensus company; and FuturePlan by Ascensus.