SECURE Act Surprises for Plan Sponsors and TPAs

“The Setting Every Community Up for Retirement Enhancement (SECURE) Act affects federal laws for employer-sponsored retirement benefit programs and contains a few features that may surprise employers and their third-party administrator (TPA) business partners.

Let’s define "surprise" as actions that an employer must take, or may take, but more importantly, that involve complex changes to human resources (HR) administration systems and savings plan calculation engines. We leave it to the reader to evaluate the level of urgency for addressing the new law, which was enacted on December 20, 2019.

For this article, let’s focus on two SECURE legislation changes, one mandatory and the other voluntary.” Click here to read more.

Source: Charles J. Clark and Deborah Lachner for Milliman, Inc.