What you need to know about the SECURE Act

Description

Abstract: In late 2019, the first significant legislation related to retirement savings since 2006 became law. Whether nonprofits offer employees 403(b), 401(k) or 457(b) plans, or no retirement plan, the SECURE Act includes provisions that could affect them and their employees. This article discusses expanded opportunities in multiple employer plans, participation by part-time employees, mandatory lifetime income disclosures and more. A sidebar highlights qualified charitable distributions rules under the law.