SECURE 2.0 Act Impacts on Retirement Programs & New Final Required MinimumDistribution Regulations - Tax Topics w/ Ed Zollars

The last major tax bill passed by Congress was the SECURE 2.0 Act that was enacted at the end of 2022, which expanded upon and modified the original SECURE Act from 2019. In this four hour course we will look at the impact of that Act on qualified employer retirement plans, SEPs, SIMPLEs, and IRAs. We will also review the final regulations issued in 2024 that covered the new required minimum distribution rules for defined contribution plans and IRAs, explaining the changes made in both Acts to these requirements. We will also consider changes to tax planning related to both the use of plans by employers, options available to employees, and Roth and traditional IRAs.

• The changes to the applicable age used to determine a participant's required beginning date for minimum distributions from defined contribution employer retirement plans and IRAs.
• How the IRS has proposed to resolve the drafting error in the SECURE 2.0 Act that provided two different applicable ages for those born in 1959.
• The IRS's final regulations provisions dealing with the required minimum distributions in the 9 years following the death of the original account holder where that account holder died after reaching his/her required beginning date.
• Final regulations clarifying the definitions of an eligible designated beneficiary.
• Key changes required for 401(k) plans, including the mandate to automatically enroll new employees in the plan and the revised requirements under the SECURE 2.0 Act to allow long-term part-time employees to defer to an employer's 401(k) plan.
• Expansion of Roth style options in employer sponsored defined contribution plans, SEPs and SIMPLE-IRA plans
• Upcoming mandate for employees compensated more than $145,000 to use a designated Roth account in 401(k) plans to make catch-up contributions
• Short term increase in the amount of catch-up contributions for those in their early 60s.
• Revisions to incentives for small employers to establish retirement plans
• The upcoming revisions to the Saver's Match program, including IRS requests for suggestions on implement the program
• Special rules allowing for penalty free distributions from IRAs and employer retirement plans.

• Manual
  • If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
  • If you did purchase a printed manual and would also like an electronic copy be sure to download it
• Lunch will be provided if you are also the morning session with Ed Zollars on 10.28.24.
• Review ISCPA Parking Map - found in your email confirmation
• IRS CE Approved

If you need this reported to the IRS for CE credit, email CPE@idcpa.org