The SECURE Act was signed into law on December 20, 2019. Your plan will require an amendment prior to the end of your 2022 plan year. Below are provisions that you will be able to elect in the plan amendment: Qualified Birth or Adoption Distribution (“QBAD”): A...
Safe Harbor Plan Amendments
Do you or your clients have a 401(k) plan that could benefit from amending to include a safe harbor provision?
Safe Harbor Plans: is it Safe to Amend?
If you have a safe harbor plan and wanted to make a change during the year, the IRS restricted what you could and could not amend, even if the change didn’t affect the safe harbor provisions. Recently, the IRS issued additional guidance for both traditional and...