SECURE 2.0 Provisions and Priorities for Defined Benefit and Cash Balance Plans
Help clients prioritize the key provisions of the SECURE 2.0 Act for their defined benefit and cash balance plans.
Key Points
- Key Provisions for 2023: Educate clients on the SECURE 2.0 provisions applicable in 2023, such as the increase in age for required minimum distributions and the reduction in excise tax for missed RMDs.
- Changes for 2024: Assist clients in complying for the provisions effective in 2024, including the increase in cashout dollar limits and the reform of family attribution rules.
- Priorities for 2025 and Beyond: Provide insights on the provisions set to take effect in 2025 and later, such as the requirement to provide paper statements and the expansion of the Employee Plans Compliance Resolution System (EPCRS).