Peter C. Langdon

McGrath North is sponsoring and conducting our 14th Annual Seminar for Accounting Professionals in Omaha, Nebraska.  

In August 2024, the IRS issued Notice 2024-63 (the “Notice”) which addresses the SECURE 2.0 Act provision permitting retirement plan matching contributions on student loan repayments. The Notice is effective January 1, 2025 for calendar year plans and applies to 401(k) plans, 403(b) plans, governmental 457(b) plans and SIMPLE IRAs. This article provides a general summary of the Notice.  

The Setting Every Community Up for Retirement Act 2.0 or the SECURE Act 2.0 brings a variety of new retirement plan requirements and options to plan sponsors. Among the SECURE Act 2.0 provisions are several new minimum distribution rules and distribution options. This article focuses on the new distribution options offered through the SECURE Act 2.0 that plan sponsors should consider offering to plan participants as the different options become available. The new distribution events generally apply to account based defined contribution plans, such as 401(k) plans. However, the new minimum required distribution age and cash-out rules apply to all qualified plans.