PLANSPONSOR - November - December 2023 - 28

00
CONFERENCE COVERAGE
ROADMAP
2024 Retirement Plan
Administration
Attendees of the PLANSPONSOR Roadmap: 2024 Retirement Plan
Administration livestream were given a comprehensive overview of
provisions and deadlines in the SECURE-for Setting Every Community
Up for Retirement Enhancement-2.0 Act of 2022, as well as checklists
to help them comply. Plan sponsors heard suggestions for financial
wellness program themes, as well as how to implement them, and
learned how participant demographics can inform their plan design,
financial wellness and participant
00 September 2023
Locationtktk
communication decisions. The
program is available on demand at www.plansponsor.com/events.
SECURE 2.0 GPS
Most of the 90-plus provisions in
SECURE 2.0 were not effective immediately,
but will be in 2024 or beyond,
Jared Butler told the audience for the
virtual livestream.
Even so, plan sponsors should already
be complying with a few provisions that are
either mandatory or optional, said Butler,
a senior ERISA [Employee Retirement
Income Security Act] consultant with the
institutional investor group at Vanguard
28 PLANSPONSOR.COM November - December 2023
Strategic Retirement Consulting.
The
most far-reaching of those was the increase
to the required minimum distribution age,
which went from 72 to 73 for 2023.
Because
been unaware, Butler
the
20
Ad
?itting HSAs into your
benefits offering
R
pretax-money, Butler said. But SECURE
2.0 gives little detail on how it should be
reported. " While that is technically available,
I'm unaware of anyone offering it, "
though plan sponsors seem interested,
Butler said.
2024 Administration
For 2024, the good news is that sponsors
have " really only a couple of mandatory
provisions " to be mindful of, especially
after a mandatory Roth catch-up
provision was pushed out two years, said
Catherine Ellis, an institutional adviser
at CAPTRUST.
The first key provision, she said,
some people may have
said,
IRS
issued a notice giving some wiggle room,
allowing participants to return mistaken
RMDs to their plan or a Roth individual
retirement account.
This
year,
an
optional
employer
match may also be treated as Roth-or
relates to Roth plan distributions.
Currently, they are treated like a " traditional
distribution " from a retirement
plan, meaning a participant has to start
taking RMDs at 73.
Beginning next year, SECURE 2.0
will allow in-plan Roth savings to be
treated as they are in an IRA, Ellis said.
That means no RMD requirement for
Roth savings within a plan. Additionally,
ROADMAP
2024 Retirement Plan
Administration
00 September 2023
Locationtktk
ROADMAP
2024 Retirement Plan
Administration
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Locationtktk

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PLANSPONSOR - November - December 2023

Table of Contents for the Digital Edition of PLANSPONSOR - November - December 2023

INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
A Cost-Conscious Approach
Exploring the Choices
2023 PLANSPONSOR Service Stars
PLANSPONSOR Roadmap
A Thorny Issue
Take Under Advisement
A Repair Guide for Errors
FIDUCIARY FORUM Annual Notice Season
NSIDE ANGLE An Influential Opinion
PLAN PROFILE A Focus on Wellness
PLANSPONSOR - November - December 2023 - Cover1
PLANSPONSOR - November - December 2023 - INSIGHTS
PLANSPONSOR - November - December 2023 - 1
PLANSPONSOR - November - December 2023 - 2
PLANSPONSOR - November - December 2023 - 3
PLANSPONSOR - November - December 2023 - PARTICIPANT ANALYSIS
PLANSPONSOR - November - December 2023 - 5
PLANSPONSOR - November - December 2023 - RULES & REGULATIONS
PLANSPONSOR - November - December 2023 - 7
PLANSPONSOR - November - December 2023 - 8
PLANSPONSOR - November - December 2023 - 9
PLANSPONSOR - November - December 2023 - UPFRONT
PLANSPONSOR - November - December 2023 - 11
PLANSPONSOR - November - December 2023 - 12
PLANSPONSOR - November - December 2023 - 13
PLANSPONSOR - November - December 2023 - 14
PLANSPONSOR - November - December 2023 - 15
PLANSPONSOR - November - December 2023 - A Cost-Conscious Approach
PLANSPONSOR - November - December 2023 - 17
PLANSPONSOR - November - December 2023 - 18
PLANSPONSOR - November - December 2023 - 19
PLANSPONSOR - November - December 2023 - Exploring the Choices
PLANSPONSOR - November - December 2023 - 21
PLANSPONSOR - November - December 2023 - 22
PLANSPONSOR - November - December 2023 - 23
PLANSPONSOR - November - December 2023 - 2023 PLANSPONSOR Service Stars
PLANSPONSOR - November - December 2023 - 25
PLANSPONSOR - November - December 2023 - 26
PLANSPONSOR - November - December 2023 - 27
PLANSPONSOR - November - December 2023 - PLANSPONSOR Roadmap
PLANSPONSOR - November - December 2023 - 29
PLANSPONSOR - November - December 2023 - 30
PLANSPONSOR - November - December 2023 - 31
PLANSPONSOR - November - December 2023 - A Thorny Issue
PLANSPONSOR - November - December 2023 - 33
PLANSPONSOR - November - December 2023 - Take Under Advisement
PLANSPONSOR - November - December 2023 - 35
PLANSPONSOR - November - December 2023 - A Repair Guide for Errors
PLANSPONSOR - November - December 2023 - 37
PLANSPONSOR - November - December 2023 - FIDUCIARY FORUM Annual Notice Season
PLANSPONSOR - November - December 2023 - NSIDE ANGLE An Influential Opinion
PLANSPONSOR - November - December 2023 - PLAN PROFILE A Focus on Wellness
PLANSPONSOR - November - December 2023 - Cover3
PLANSPONSOR - November - December 2023 - Cover4
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