Groom Law Group, Chartered (“Groom”) announced today the launch of its SECURE Act Resource Library website. The launch comes on the heels of the passage of the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act, which was included in one of two spending bills signed into law by President Donald Trump on December 20, 2019.
The SECURE Act is the most significant piece of legislation affecting the U.S. retirement system in more than a decade and will inevitably affect the majority of Americans saving for retirement. In order to provide a clearer understanding of the Act’s nearly thirty retirement provisions, the resource library was designed to provide employers and retirement plan service providers with easy access to the legislation and related regulatory guidance, key deadlines, necessary compliance measures, and insights from Groom legal professionals, all in a single location.
The SECURE Act Resource Library features relevant insights and important takeaways on key provisions that impact:
- The Establishment of Multiple Employer Plans and “Pooled Employer Plans”
- Offering In-plan Lifetime Income Options
- Retirement Plan Recordkeeping
- Distributions from Plans and IRAs
- Defined Contribution and Defined Benefit Plan Administration
“The passage of the SECURE Act has been a long time in the making and will have a profound impact on the retirement system,” said Groom principal Michael Kreps. “Now that the SECURE Act is law, employers and services providers will need to take a hard look at how the various provisions will impact their plans,” added Groom principal and chair of the firm’s Policy practice Brigen Winters.
Please visit the SECURE Act Resource Library at www.secureretirementact.com