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SECURE Act Becomes Law

On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act (“SECURE Act”) became law when President Trump signed Congress’ year-end spending package. Some have called the SECURE Act the most comprehensive piece of retirement legislation in over ten years. Certainly, this may be true for private sector retirement plans and for small, unrelated employers, which now are allowed to participate in a new type of multiple employer plan, referred to as a “Pooled Employer Plan.” However, as we discussed in our e-alert dated May 24, 2019, there also are some significant provisions about which governmental plan sponsors and administrators must be aware. The key provisions, which may affect governmental plans, are as follows:



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