Utilizing Pension-Linked Emergency Savings Accounts Under SECURE 2.0
Help clients understand the Pension-Linked Emergency Savings Accounts (PLESAs) introduced by the SECURE 2.0 Act, and guide them through the implementation and benefits of PLESAs.
Key Points
- Understanding PLESA Eligibility: Educate clients on the eligibility criteria for adding PLESAs to their retirement plans, including which employees can contribute and the contribution limits.
- Account Requirements and Features: Focus on the specific requirements and features of PLESAs, such as withdrawal rules, fee limitations, and the types of investments allowed.
- Implementation and Compliance: Provide clients with strategies to implement PLESAs effectively, including understanding the reporting and disclosure requirements and preparing for potential IRS and DOL guidance.