article thumbnail

SECURE 2.0 Act of 2022 Arrives: (Another) Landmark Retirement Package

Proskauer's Employee Benefits & Executive Compensa

a long-awaited (and debated) package of retirement plan reforms. Given the breadth of the changes and the anticipated regulatory efforts to implement the new law, virtually all qualified retirement plans will need to be reviewed in conjunction with SECURE 2.0’s The wait is over for SECURE 2.0, may be viewed here.

401(k) 108
article thumbnail

AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

Employers can adopt the increased limits through a retroactive plan amendment so long as the amendment is adopted before the end of the plan year in which it is effective (December 31, 2021 for calendar year plans). Single Employer Pension Plan Provisions. This provision was removed from the final bill.