Fiduciary Governance

SECURE Act 2.0: Key Changes for 2024
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
To most, the SECURE Act 2.0 appeared to predominantly outline optional changes that go into effect over the span of 10 years. However, there are a few mandatory changes taking effect in 2024 that plan sponsors will need to comply with. These provisions require sponsors to work with their advisors, recordkeepers, and providers to develop  Read More →
Corporate Mergers & Acquisitions: What About the 401(k)?
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
In a corporate merger or acquisition, the ongoing treatment of both the seller’s and buyer’s retirement plans come into question, so it’s crucial to understand how different types of business transactions can impact both plans. If left unaddressed prior to close, many benefit issues could result in either ruining the deal or creating untold compliance  Read More →
Growing Interest in After-Tax Contributions to 401(k) Plans
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary GovernanceComments are off for this post
Voluntary after-tax contributions (not to be confused with Roth contributions) are just what they sound like. These contributions are made in after-tax dollars and the taxes on the earnings are deferred until the year of distribution. Many 401(k) plans still do not allow voluntary after-tax contributions because there has been, historically, little interest from participants.  Read More →

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