SECURE ACT is Here: The Pros and Cons Explored
The Setting Every Family Up for Retirement (SECURE) Act was signed into law last December 2019 as part of the year-end spending bill. Comprising nearly 30 provisions, the SECURE Act implements various measures aimed at improving retirement savings security. It also includes significant requirements designed to increase access to tax-advantaged accounts, as well as easier avenues for small and medium-sized companies to participate in pension plans for their employees.
The SECURE Act is the most sweeping retirement legislation in more than a decade. With the changes taking place, potential implementation challenges and risks may pose legal consequences to be managed.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the SECURE Act. Speakers will present the pros, cons and potential issues under the newly signed law. They will also provide an outlook that will help concerned individuals to properly navigate these changes.
- An Overview of the SECURE Act’s Key Provisions
- Major Changes and Their Implications
- Implementation Issues and Challenges
- Pros and Cons of Implementation Options
- Outlook for Regulatory Guidance
Sherrie Boutwell, Partner
Boutwell Fay LLP
- Increasing Auto Enrollment Deferral Rate Escalation Maximum
- Long-term Part-time Employee Eligibility
- Nonelective Safe Harbor Designs
- Elimination of Annual Notice
- 403(b) In-kind Distributions Upon Termination
- In Service Distributions in Governmental 457 Plans
Timothy Speiss, Partner
- Restrictions on Inherited IRA/Nonspouse Beneficiary Distributions
- Removing Maximum Age for Contributions
- Compensation for IRA purposes
- In Service Distribution for DB Harmonized to Age 59 1/2
Bryan D. Bolton, Chairman
Funk & Bolton, P.A.
- Lifetime Income
- Fiduciary Safe Harbor for Annuities
- Portability for Lifetime Income Investments
- Disclosure of Lifetime Income Options
- Increasing the RMD Age to 72
- Increased Reporting & Disclosure Failure Penalties
Todd B. Castleton, Counsel
Kilpatrick Townsend & Stockton LLP
- Multiple Employer Plans
- Pooled Employer Plans
- Pooled Plan Providers
- One Bad Apple Rule
- Combined Annual Reports for Group of Plans
- Frozen Defined Benefit Plan Nondiscrimination Testing Relief
- Birth and Adoption Withdrawals
- Plan Adoption Deadline
- Small Employer subsidies
- Start up costs
- Auto enrollment
Who Should Attend:
- Employee Benefits Lawyers
- Labor and Employment Lawyers
- Human Resource Executives
- Benefits Managers
- Retirement Plan Sponsors
Sherrie Boutwell has focused for thirty years in the areas of employee benefits law and ERISA, with an emphasis on retirement and deferred compensation plans. Sherrie has extensive experience and is a highly sought after speaker/writer/advisor on employee benefits topics. Sherrie takes pride in bringing a practical and down to earth approach to resolving complex benefits issues involving qualified plans, non-qualified plans and health and welfare plans.
Sherrie Boutwell has focused for thirty years in the areas of employee benefits law and ERISA, with an emphasis on …
Timothy Speiss is Co-Leader of the firm’s Personal Wealth Advisors Group. He chairs the firm’s Asia Practice and is a member of the firm’s community service group, EisnerAmper Cares. Tim has more than 30 years of experience in providing comprehensive tax planning and related investment, compensation, and financial planning services to senior executives and board members of Fortune 100 publicly held companies, Forbes 400 families, and privately held businesses and owners including celebrities and owners of professional sports teams.
Prior to joining the firm, Tim was a Partner with a Big 4 accounting firm and served as Partner-in-Charge of their New York Metro and Northeast Area Private Client Advisory Practice.
Tim is a frequent speaker and author on topics of tax and financial planning, executive compensation, charitable giving, and related matters. He has lectured in various university graduate programs and regularly provides commentary on tax, investment and legislative matters to television, radio, and print media, including CNBC, Bloomberg and Forbes.
Tim serves on the boards of, and regularly advises, numerous charitable and educational organizations and capital campaign initiatives.
Timothy Speiss is Co-Leader of the firm’s Personal Wealth Advisors Group. He chairs the firm’s Asia Practice and is a …
Bryan Bolton represents ERISA plan sponsors, plan fiduciaries, employers, insurers, self-funded plans, third-party administrators, Managed Care Organizations, and broker-dealers in a wide-variety of matters pertaining to welfare and retirement plans, including in judicial and regulatory proceedings. Bryan’s extensive appellate experience includes appeals to the United States Courts of Appeals for the Second, Third, Fourth, and District of Columbia Circuits, and amicus counsel in the Supreme Court of the United States. Mr. Bolton is a member of the Maryland and Pennsylvania bars, and is listed in the Bar Register of Preeminent Lawyers, Maryland Super Lawyers and Best Lawyers in America.
Bryan Bolton represents ERISA plan sponsors, plan fiduciaries, employers, insurers, self-funded plans, third-party administrators, Managed Care Organizations, and broker-dealers in …
Todd B. Castleton is counsel with Kilpatrick Townsend & Stockton’s Employee Benefits Practice in the firm’s Washington, D.C. office, where he leads the Qualified Retirement Plans team. His practice focuses on the compliance and administration of qualified defined contribution and defined benefit retirement plans, nonqualified deferred compensation arrangements, and health and welfare plans. Todd partners with clients to accomplish solutions for effective and efficient employee benefit plan administration, to maintain the plans’ tax-preferred status under the Internal Revenue Code (IRC), to manage employee benefits issues in mergers and acquisitions, to comply with Titles I, II, and IV of the Employee Retirement Income Security Act (ERISA), and to implement the requirements of the Tax Cuts and Jobs Act of 2017 (Tax Reform) and the Patient Protection and Affordable Care Act of 2010 (Health Care Reform). He was a contributing editor of The 401(k) Plan Handbook and the Guide to Assigning & Loaning Benefit Plan Money.
Todd B. Castleton is counsel with Kilpatrick Townsend & Stockton’s Employee Benefits Practice in the firm’s Washington, D.C. office, where …
Print and review course materials
Method of Presentation:
On-demand Webcast; Group-Internet Based
General knowledge of employee benefits laws
NY Category of CLE Credit:
Areas of Professional Practice
NASBA Field of Study:
Finance - Technical
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About Boutwell Fay LLP
Boutwell Fay LLP is a women-owned law firm specializing in employee benefits and ERISA. Their practice areas include Qualified and Non-Qualified Plans, Health and Welfare Plans, Plan Correction and Government Audits, Fiduciary and ERISA Consulting and ERISA Claims and Disputes.
The firm provides legal counsel to a broad range of businesses, consulting and financial services firms. Their clients include government agencies, private employers, plan service providers, financial institutions and pension plans. They serve closely-held and public companies of all sizes, with plans ranging from 10 to thousands of participants.
The Firm’s dedication to their clients includes a commitment to provide practical and cost effective solutions to complex legal problems. Boutwell Fay LLP has focused on keeping overhead low and staffing lean. This enables the Firm to work in a more efficient manner and pass the resultant savings to their clients.
The background of the firm’s partners includes practice at national law firms. Sherrie Boutwell has focused for thirty years in the areas of employee benefits and ERISA, with an emphasis on retirement plans and deferred compensation plans. Sherrie takes pride in bringing a practical and down to earth approach to resolving complex benefits issues involving qualified plans, non-qualified plans and health and welfare plans. Alison Smith Fay represents employers in all aspects of employee benefits matter. She has extensive experience with tax -qualified retirement plans and health and welfare plans including Affordable Care Act issues. A significant portion of her practice is representing employers before the Internal Revenue Service and the Department of Labor.
These attorneys bring to their practice a high degree of sophistication coupled with a unique sensitivity to their client’s overall business and legal needs. Boutwell Fay LLP attorneys are active in professional and trade associations related to their practice areas. The Firm’s attorneys have served on committees of the Western Pension & Benefits Counsel and the National Institute of Pension Administers. While the firm provides a high quality of legal services normally associated with large law firms, their smaller size allows them to be more accessible to clients and more responsive to their needs.
About EisnerAmper LLP
EisnerAmper LLP is a premier accounting and business advisory services firm and is among the largest in the United States. The firm provides a comprehensive set of private business services to closely held companies, high-net-worth individuals and families. This full menu of services includes tax planning and compliance, investment planning, international wealth advisory services, family business transition and succession planning, trusts and estate planning, cash flow and asset protection planning. EisnerAmper also provides a unique set of outsourced family office services, making it possible for you to focus on your core business while we handle the accounting and finance functions. Our deep expertise includes providing you with the timely and accurate management information and financial reporting necessary to run your business without incurring the overhead of additional accounting personnel. Headquartered in New York City, EisnerAmper maintains offices across the United States as well as internationally in the United Kingdom, India, Singapore, Ireland, and Israel.
About Funk & Bolton, P.A.
Funk & Bolton, P.A. has dedicated over twenty years to representing ERISA plans, plan sponsors, plan fiduciaries, including retirement plans, welfare plans, and related representation of broker-dealers and insurers of disability, health, and life insurance plans. The firm’s extensive ERISA, FEHBA, ACA, and regulatory experience provides a unique platform for delivery of legal services to ERISA plans, plan sponsors, plan fiduciaries, as well as health, life, and disability insurers. The firm’s deep bench of legal talent delivers strategic counsel to plans, plan administrators, plan sponsors, trustees, and insurers, including offering analytical insight and advice on the intersection between federal (ERISA, FEHBA & ACA) and state laws.
About Kilpatrick Townsend & Stockton LLP
Kilpatrick Townsend is a multi-practice international firm with more than 600 attorneys and professionals, with 20 offices in the United States and abroad. The firm provides clients with unsurpassed legal representation in the following areas:
Employee Benefits, Labor & Employment: Counseling, transactions, administrative advocacy and litigation
Business and Finance: Including securities, mergers and acquisitions, tax, and commercial transactions
Intellectual Property: The full complement of IP procurement, counseling, and litigation
Construction and Infrastructure: All aspects of transactions and litigation
Litigation: Including insurance recovery, environmental, and complex business litigation
Kilpatrick Townsend serves clients around the world from the firm’s offices in Alaska, California, Colorado, District of Columbia, Georgia, New York, North Carolina, Texas, Washington, Shanghai, Stockholm, and Tokyo. The firm is committed to learning and furthering the business and legal goals of its clients.