2022 Trust Forum Presentations

Internal Use Only

Legislative Update

• On December 20, 2019, the SECURE Act was enacted into law. • The SECURE Act is the first major retirement reform since the Pension Protection Act of 2006. • The law made several changes with respect to plan administration, including: • Increased RMD age to 72. • Mandated long-time, part-term worker coverage. • Increased limit on automatic enrollment safe harbor from 10% to 15%. • Made changes to various credits (e.g., small employer plan start-up credit).

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Internal Use Only

Legislative Update

• In addition, the SECURE Act included provisions on several notable fronts, including – • Pooled employer plans. • Lifetime income disclosure. • Lifetime income investment options.

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