|At the end of 2019, Congress made significant changes to long-held rules in its effort to expand access to workplace plans and retirement savings, including the Setting Every Community Up for Retirement Enhancement (SECURE) Act.
As the first major retirement law in nearly 13 years, there’s a lot to digest. This Guide focuses on the key provisions relevant to workplace retirement plans. Use the details in this Guide to help prepare for the changes affecting your plan.
In many cases, additional regulatory guidance is required to clarify these changes. Fidelity has been working closely with various industry groups to share our interpretations and questions with regulators, while representing the needs of our plan sponsors and participants. Fidelity will provide updates as regulatory guidance that may impact your plan is issued.
Fidelity does not provide legal or tax advice. As always, plan sponsors should discuss any potential plan design changes with their tax advisors, and encourage employees to consult with their tax advisors on how these changes may impact them.