News & Insights

Improving Retirement Security with the Rise & Shine Act  In June 2022, the Senate Health, Education, Labor and Pensions Committee (HELP) voted to advance the Retirement Improvement and Savings Enhancement Act to Supplement Healthy Investments for the Nest Egg…

What You Need to Know  On December 18, 2020, the Department of Labor (DOL) adopted a new prohibited transaction exemption under ERISA and the Internal Revenue Code for investment fiduciaries with respect to employee benefit plans and individual retirement accounts…

Increasing Small Business Retirement Choices   Senators Jacky Rosen (Democrat, Nevada) and Tim Scott (Republican, South Carolina) have introduced the bipartisan Increasing Small Business Retirement Choices Act. This proposed legislation aims to reduce…

Let’s Talk Tax…  In this article, we provide a Cycle 3 restatement reminder and update you on important upcoming compliance deadlines for defined contribution plans.  Article Continues Below LIFE Act: What is the Lifetime Income…

Representatives Donald Norcross (D-NJ) and Tim Walberg (R-MI) who are both members of the House Committee on Education and Labor, reintroduced the bipartisan Lifetime Income for Employees (LIFE) Act of 2022. This proposed legislation would…

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 and the Internal Revenue Service (IRS) extended the deadline for employers to adopt new qualified retirement plans that are effective for the preceding taxable year until the…

With the market’s volatile start to the year, it’s understandable why plan participants may be concerned. It’s often the fear of the unknown that causes individuals to act on emotion and make decisions they may later regret. Right now, we…

The Securing a Strong Retirement Act (better known as the SECURE Act 2.0) is a follow-up to the Setting Every Community Up for Retirement Enhancement (SECURE) Act that was signed into law on December 20, 2019. The U.S. House of…

Important compliance deadlines are just around the corner for defined contribution plans. ABG Southwest advisors are also discussing recent changes to the required minimum distribution (RMD) rules which have important implications for retirees. Article Continues Below Benefits & Recruiting:…

Although the worst of the pandemic is now, we hope, behind us, the lifestyle disruption has created a monumental shift in how people work. This disruption has affected nearly every industry and has caused many individuals to take a…

How Can You Adapt Your Retirement Plans for Rising Costs in Healthcare? Healthcare is one of the largest expenses during one’s retirement and costs continue to rise. These costs are rising primarily due to an aging population and longer…

From Job Perk to Essential Benefit: The Demand for Financial Wellness Programs There is a strong connection between mental health and finances. Financial problems can lead to a valued company team member feeling anxious and/or depressed and, in turn,…

On April 14, 2021, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) issued cybersecurity guidance for employer sponsored retirement plans. This is the first ever issued guidance for plan sponsors, plan fiduciaries, recordkeepers, and plan participants to implement…

At the end of 2020, the Department of Labor (DOL) adopted a rule that reinstates the five-part test to determine what is or isn’t investment advice and implements a new prohibited transaction exemption that expands fiduciary advice to include rollover recommendations. In…

Senators Chuck Grassley (R-Iowa), Maggie Hassan (D-New Hampshire), and James Lankford (R-Oklahoma) introduced a bill named the Improving Access to Retirement Savings Act. This proposed bill will extend retirement plan choices to nonprofit groups and provide incentives to encourage small…

The Securing a Strong Retirement Act is a new piece of proposed legislation designed to encourage individuals to save more in their working years so they can enjoy a financially secure retirement. It has already been dubbed the SECURE Act…

Meeting the requirements and opportunities presented by the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief and Economic Security (CARES) Act can becomplex. Key considerations as we move forward in 2021 include the…

Employers and retirement plan sponsors continue to be focused on participant outcomes when it comes to fine-tuning and managing their company’s retirement plans, Fidelity Investments’ 2020 Plan Sponsor Attitudes survey reveals. In this article, we will review survey highlights and…

As American workers and businesses continue to grapple with the health and economic ramifications of the COVID-19 global health crisis, the Consolidated Appropriations Act of 2021 (otherwise known as CARES Act 2.0) was signed into law on December 27, 2020.

In this issue of Tax Talk, we update you on important upcoming compliance deadlines for defined contribution plans as well as provide a quick reminder of the SECURE Act’s ruling on part-time employee participation effective this year. Upcoming Compliance Deadlines…