Fred Reish Comments on DOL SECURE 2.0 Rules With ThinkAdvisor

In “DOL SECURE 2.0 Rules Land at OMB,” ThinkAdvisor turned to benefits and executive compensation partner Fred Reish for insight on the Department of Labor (DOL) filing rules and disclosures related to implementing the Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 with the Office of Management and Budget (OMB).

Reish explained that the rules and disclosures the DOL filed at OMB could likely apply to sections of SECURE 2.0 that address:

• Requirements for pension plans
• Eliminating unnecessary plan requirements related to unenrolled participants
• Requirements to provide paper statements in certain cases
• Amendments to the Employee Retirement Income Security Act generally provide that, with respect to defined contribution plans, unless a participant elects otherwise, the plan is required to provide a paper benefit statement at least once annually
• Defined contribution plan fee disclosure improvements
• Consolidation of defined contribution plan notices

The full article is available for ThinkAdvisor subscribers.