Market & Legal Update

MARKET: Equity markets declined overall in August despite trading upwards the last few trading days of the month as the market continues to weigh in on the path of interest rates by the Fed. LEGAL: Retirement plan sponsors are getting some relief and guidance from the recent IRS announcement that they have an additional two years to implement the mandatory Roth catch-up provision outlined in SECURE 2.0.

MARKET: July was an encouraging start to the second half of 2023, as there were positive results in both markets and the economy. Inflation continued to cool while economic output exceeded expectations, although the Fed continued their hawkish path by restarting rate hikes. LEGAL: The IRS has issued two pieces of guidance on two provisions of SECURE 2.0 relating to expanded plan correction and required minimum distributions.

MARKET: June’s positive economic developments were somewhat of a surprise given the dire forecasts of many economists earlier in the year, as many predicted a recession later in 2023 given the Fed’s efforts to cool the economy over the last year. LEGAL: While the SECURE 2.0 Act of 2022 provided employer retirement plan sponsors with many new potential design features, certain provisions related to Roth (after-tax) treatment have left employers and providers confused. This article will address the following three of those changes.

MARKET: May was a relatively positive month regarding economic data, and quite the mixed bag when it came to market returns as investors were focused on the debt ceiling and inflation. LEGAL: We review provisions of the SECURE 2.0 Act that apply to retirement plans that are not subject to ERISA, including governmental plans (inclusive of tribal governmental plans) and church plans who have not elected to be covered under ERISA.

MARKET: April was another positive month for the markets, as the consumer continued to hold up well despite relatively high inflation and rising interest rates. Consumer prices eased to 4.2% in March, slower than the 5.1% rise in February, but still well above the Fed’s target rate of 2%. LEGAL: This month’s legal update is focused on the expanded plan eligibility rules for long-term part-time employees under the SECURE 2.. Act of 2022.

MARKET: March was an extremely eventful month for markets following two public addresses from the Federal Reserve, a modest inflation report, and a frightening but contained to-date banking crisis, all of which are intricately connected events. LEGAL: Encouraging Roth contributions has proven to be a favorite legislative strategy largely because Roth contributions are a short-term revenue raiser when compared with traditional tax-deferred contributions.

MARKET: Following a difficult 2022 and a promising recovery in January 2023, stocks finished lower for the month, with all three major U.S. indices closing out a volatile February in the red. LEGAL: This month’s update is focused on the provision which expands the ability to self-correct retirement plan failures under the IRS’ correction program.

MARKET: While the economy is facing numerous headwinds in 2023 following a rough 2022, markets have remained somewhat resilient with a solid fourth quarter and a good start to the year in January. LEGAL: Get up to speed with the SECURE 2.0 provisions that went into effect as of the Enactment Date or in 2023.

MARKET: As December capped the worst year in more than a decade for global equities and bonds, higher interest rates in 2023 may have significant impacts. LEGAL: We have summarized some key 2023 retirement plan compliance requirements and recommended action for plan sponsors.

MARKET: Federal Reserve Chairman Jerome Powell signals a potential slowdown in rate increases as inflation pressures show signs of easing from record levels back in June this year. LEGAL: The IRS and the Department of Labor want to make sure that contributions and loan repayments that employees make to their 401(k) and 403(b) plans are deposited on a timely basis.

MARKET: October has historically been known for significant market crashes like the one in 1929, 1987 and 2008, but even given all the volatility in the markets this year, surprisingly this October didn’t prove to be as scary. LEGAL: IRS extends amendment deadline to 2025 to adopt CARES Act amendments and provides Hurricane Ian relief.

MARKET: Markets continued to decline in September following the Federal Reserve’s assertion of their aggressive stance in Jackson Hole at the end of August. LEGAL: Significance of qualified birth or adoption distribution (QBAD) being added to the SECURE Act and how it can benefit your plan design.

MARKET: How inflation and the Federal Reserve’s response to inflation has affected the markets and investors. LEGAL: IRS Extension for Plan Amendment Deadlines and what this means for retirement plans.

MARKET: Overall global equity markets advanced higher despite record inflation. LEGAL: Learn about plan compliance for the ERISA Fidelity Bonding Requirements.

MARKET: Markets post worst first half of the year since 1970. LEGAL: IRS introduces new pre-audit compliance pilot program.

MARKET: Market volatility continues as the U.S. economy declines. LEGAL: IRS extends remote notarization and signature witnessing through December 2022.

MARKET: Stocks sell off amid credible risks to the economy. LEGAL: More retirement reform could happen soon.

MARKET: Markets advance despite war, record high inflation and rising rates. LEGAL: IRS issues new proposed regulations for required minimum distributions (RMDs).

MARKET: Russia’s invasion of Ukraine puts markets on edge. LEGAL: Supreme Court decision on excessive fees offers important reminders for plan fiduciaries.

MARKET: Who could have thought we would be missing 2021? LEGAL: The challenges of beneficiary determinations.

MARKET: Stocks capped off another banner year amid Covid-19 and rising inflation. LEGAL: Kick-off the new year by marking your calendars with important 2022 compliance requirements and deadlines.

MARKET: Omicron variant and Fed policy pivot contributes to markets declining. LEGAL: IRS issues FAQs on re-employed retirees and in-service distributions.

MARKET: S&P posts best month in nearly a year. LEGAL: Understanding how to electronically distribute your SPDs.