Print Friendly Version Print Friendly Version

On Beyond Fiduciary: Effective Plan Governance

Course Overview

An often overlooked aspect of qualified retirement plan operations is the need for a prudent and comprehensive governance process. Plan rules and procedures are often contained in a series of governing plan documents and service agreements. Plan officials are faced with analyzing and interpreting numerous documents from multiple entities.  By creating a governance process, plan officials can help ensure plan operations are consistent and adhere to fiduciary standards.

Learning Objectives

  • Understand the importance of a plan governance process
  • Assist plan sponsors and committees in becoming better consumers of fiduciary services
  • Identify and address actual and potential conflicts of interest
  • Avoid the legal implications of inconsistent plan-related documents, service agreements and contracts
  • Assess educational needs of committees and plan officials

In order to be awarded the full credit hours, you must be present for the entire session, registering your attendance and departure in the webinar and answering all polling questions.

Participants will earn 1.0 CPE credit.

Field of Study:  Specialized Knowledge

Additional Information:


Prerequisites:  3-5 years experience in the industry

Who should attend:  Financial Professionals and Accountants; others are welcome.

Advanced Preparations:  None

Program Level:  Intermediate

Delivery Method:  Group Internet Based


Refunds and Cancellations:   For more information regarding refund, complaint and program cancellation policies, please contact our offices at 218-828-4872 or email

Continuing Education Center, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

© Copyright 2024 Retirement Learning Center, all rights reserved
Print Friendly Version Print Friendly Version

New RMD Age and Plan Delay

“Several of my clients’ qualified retirement plans include the ability for certain participants who are still working to delay the required beginning date (RBD) for taking required minimum distributions (RMDs) until after retirement. Does the change in the RMD age from 72 to 73 for 2023 through 2032 affect the ability to delay RMDs past retirement if their plans give them that option?”

ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock options, and Social Security and Medicare. We bring Case of the Week to you to highlight the most relevant topics affecting your business.

A recent call with a financial advisor from California dealt with a question on 401(k) plans and required minimum distributions (RMDs).

Highlights of Discussion

Great question. Section 107 of SECURE Act 2.0 of 2022 changes the RMD age in the Internal Revenue Code (IRC) from age 72 to “the applicable age,” which is further defined as 73 for years 2023 through 2032 (and 75 for 2033 and years thereafter). The ability for some workers to delay RMDs until after retirement (even after reaching the applicable age) is driven by plan design and Treasury Regulations.

Pursuant to Proposed Treasury Regulation §1.401(a)(9)–2(b)(3), plan sponsors have the option (depending on the document they use) to allow participants who 1) continue to work and 2) are not five percent owners (i.e., participants who own five percent or less of the employer) to wait to begin RMDs until April 1 of the year following the later of the calendar year in which the employee—

  • Attains age 72; or
  • Retires from employment with the employer maintaining the plan.

We currently have proposed RMD regulations, and the Treasury Department has indicated final regulations at 1.409(a)(9) are imminent. We fully anticipate the regulations will reflect the new “applicable age” language of SECURE 2.0 and will continue to allow eligible participants to delay RMDs until after retirement if their plans currently allow the option.


SECURE 2.0 changes the current RMD age of 72 to 73 for years 2023 through 2032 (and to 75 for 2033 and years thereafter).  The Treasury Department is schedule to issue final treasury regulations to provide further implementation guidance in the near future. Plans with the appropriate language may still allow non-five-percent owners who are still working to delay their RMDs until after retirement.

© Copyright 2024 Retirement Learning Center, all rights reserved
Print Friendly Version Print Friendly Version

Mandatory Automatic Enrollment—Is My Plan Grandfathered?

“My client established a new 401(k) plan effective 1/1/2023. The plan does not have an automatic enrollment feature. Would my client’s plan be considered ‘grandfathered’ under SECURE Act 2.0 and, therefore, exempt from the mandatory automatic enrollment requirement that takes effect in 2025?”

Highlights of Discussion

Even though your client established a plan before the date by which most new plans must include an automatic enrollment and escalation feature (i.e., by the 2025 plan year), the plan does not meet the definition of grandfathered for purposes of being exempt from the automatic enrollment requirement.

Section 101 of SECURE Act 2.0 of 2022 requires 401(k) and 403(b) plans to automatically enroll participants in the following eligible automatic contribution arrangement (EACA) upon becoming eligible. The Year 1 enrollment amount must be least 3% and may go up to 10%. For subsequent years, the deferral amount is increased by one percentage point until it reaches at least 10%, but not more than 15%.[1] Participants may opt out or elect another percentage. The following plans are exempt:

  • Grandfathered plans (i.e., all current 401(k) and 403(b) plans established as of 12/29/2022—the date of SECURE 2.0’s enactment)
  • Businesses with 10 or fewer employees
  • Businesses in existence for less than 3 years
  • Church plans
  • Governmental plans


Because your client did not establish the company’s  401(k) plan on or before 12/29/2022, it does not qualify for the grandfathered exemption. Therefore, your client will have to incorporate the EACA described above by the 2025 plan year unless, of course, one of the other exemptions applies.


[1] Nonsafe-harbor plans are capped at 10% until the 2025 plan year

© Copyright 2024 Retirement Learning Center, all rights reserved