Description:

After a false start in 2022 when it failed to pass through Congress, the Secure Act 2.0 was passed in a flurry of year-end legislation. This two hour program will cover the important changes in savings and distributions of retirement plans that impact individuals.  Employers will also need to consider how Secure Act 2.0 will the administration of existing plans or the creation of new ones.  This course will provide a concise look at these hot topics.  

Learning Objectives:

After attending the presentation you will be able to...

• Understand the newest tax developments contained in in the Secure Act 2.0.
• Become knowledgeable about the new provisions modifying the administration of employer retirement plans.
• Learn about the expanded contribution and catch-up limits for individuals.
• Obtain understanding on the new required beginning dates for distributions.
• Understand the newest developments on required minimum distribution dates.

Program Content:

The major topics that will be covered in this class include:

• Implications for individuals
  • Changes to the Saver’s Credit
  • Changing the required minimum distribution rules for Roth 401(k)s
  • Changes to required beginning dates for required minimum distributions of retirement plans.
  • Penalty-Free Withdrawals for Certain Emergency Expenses
  • Special provisions for firefighters and military personnel spouses
  • Increases in catch-up contributions
  • Impact on 529 plans
  • Opportunities for student loan payment matching
• Implications for Employers
  • Starter § 401(k) plans for small employers
  • Requiring automatic 401(k) enrollment
  • Improving worker access to emergency savings
  • Increasing part-time workers’ access to retirement accounts
  • Statute of Limitations on excise taxes imposed on overcontributions to retirement plans
  • Multiple employer §403(b) plans
  • Automatic portability provisions
  • Other changes in the administration of company retirement plans

Who should attend: This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses and individuals that have these tax implications.  

Developed By: Allison M. McLeod, LL.M., CPA. A PLLC

Instructor: Allison M. McLeod

CPE Credit: 2.0

Field of Study: Taxes (2 CPE)

Prerequisites: None

Advanced Preparation: None

Format: QAS Self Study