RETIREMENT EVOLVES

SECURE 2.0: What plan sponsors, administrators, and recordkeepers need to know

The law altered the retirement landscape. We break down the impact on defined contribution and defined benefit plans.

FUTURE FOCUSED

Helping employers adapt to SECURE 2.0

Automatic enrollment. Higher catch-up contributions. Expanded eligibility for part-time employees.

Designed to help Americans save for the future, the SECURE 2.0 Act made many changes to employer-sponsored retirement programs. Our research guides plan sponsors through these provisions, so they can help secure their employees’ retirement.

Start here: SECURE 2.0’s main changes

OVERVIEW

SECURE 2.0’s key provisions

A look at the major changes to defined contribution and defined benefit plans.

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DEFINED CONTRIBUTION

Contribution updates for DC plans

SECURE 2.0 includes new provisions for employee and employer plan contributions. This article walks plan sponsors through five of them.

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DEFINED BENEFIT

The actuarial impact of SECURE 2.0 on single-employer DB plans

Despite the focus on defined contribution plans, SECURE 2.0 also includes changes affecting defined benefit plans. We explore the top three.

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Podcast

SECURE 2.0, Part 1: Tips for DC plans navigating contribution changes

Milliman retirement experts discuss the new law’s impact on defined contribution plans.

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Podcast

SECURE 2.0, Part 2: How the new retirement law affects single-employer defined benefit plans

Milliman employee benefit experts discuss the potential impact on veteran employees, the future of corporate DB plans, and the Act’s other implications for pensions.

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INSIGHT

Explore different aspects of SECURE 2.0

Benefits alert

Technical corrections to SECURE 2.0

Our latest Benefits Alert contains information about two expected key corrections for SECURE 2.0 impacting employer-sponsored defined benefit and defined contribution plans.

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BENEFITS ALERT

New IRS guidance on long-term, part-time employees in defined contribution plans

We review recent IRS guidance related to long-term, part-time (LTPT) employee rules for cash or deferred arrangements (CODA) under section 401(k).

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Benefits alert

Guidance and transition relief for RMDs

On July 14, 2023, the Internal Revenue Service (IRS) issued Notice 2023-54, providing guidance related to certain required minimum distributions (RMDs) for 2023 and transition relief.

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ARTICLE

SECURE 2.0: New notice and disclosure requirements for lump-sum windows

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Client action bulletin

SECURE 2.0: Mandatory cash-out limit increases in 2024

This Client Action Bulletin reviews the increase to the mandatory cash-out limit under the SECURE 2.0 Act of 2022 for tax-qualified, employer-sponsored DB and DC plans.

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CLIENT ACTION BULLETIN

SECURE 2.0 and retirement plan overpayments: A plan sponsor’s guide to the new legislation

Recent changes in federal law addressing how plans may recoup overpayments provide enhanced protection for participants while presenting a mixed bag for plan sponsors.

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benefits alert

SECURE 2.0 – Interim guidance on the expansion of EPCRS

We summarize the key takeaways from the new IRS interim guidance on the…

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Article

Required minimum distributions after SECURE 2.0

With the enactment of SECURE 2.0, we break down how the required minimum…

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Client action bulletin

Retirement savings for long-term, part-time employees: What is changed with SECURE 2.0

We review what has changed for employers in terms of administering retirement…

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Press Release

The Western Fire Chiefs Association (WFCA) and Milliman establish synergistic alliance to intelligently drive down risk in the Wildland-Urban Interface

Milliman has an established expertise in WUI risk analysis through extensive…

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FEDERAL AGENCY REPORTS

Required actions from government groups

Seven actions due from federal agencies provide insight on the state of U.S.…

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CLIENT ACTION BULLETIN

Withdrawal and repayment provisions

We highlight seven key provisions of The SECURE 2.0 Act regarding withdrawing…

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MULTIEMPLOYER ALERT

Auto-enrollment problematic for multiemployer plans

While SECURE 2.0’s auto-enrollment feature would help people save for…

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Resource

401(k) compliance corrections

Our collection of articles helps DC plan administrators resolve and avoid common compliance errors, including late deposits, lost earnings, and missed deferral opportunities.

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RETIREMENT & BENEFITS SOLUTIONS

Regulatory updates: Staying compliant, keeping ahead

A constantly changing regulatory climate for retirement plans of all kinds can make it difficult to set a strategy, stick to it, and maintain long-term compliance.

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