The SECURE Act, which was signed into law in December, is the first major retirement plan legislation since the Pension Protection Act passed in 2006. The bill calls for many provisions, including allowing businesses to enroll long-term part time workers into 401(k) plans.
While the SECURE Act will extend access to defined contribution plans for many Americans, it poses significant implications and opportunities for recordkeepers handling retirement plans. Employees will likely need help understanding key retirement terms and industry nuances.
