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ARTICLE · 17 SEPTEMBER 2024

Key Benefits Issues To Watch In 2024: A Comprehensive Guide

While the sweltering roil of temporary regulatory changes related to the COVID-19 pandemic may have cooled and the initial burst of SECURE 2.0 steam begins to dissipate...

United StatesEmployment and HR

Highlights:

  • With SECURE 2.0 updates, plan sponsors must stay vigilant to ensure compliance and optimize benefits, including Roth treatment for contributions and self-certification for hardship distributions.
  • State regulations on pharmacy benefits managers (PBMs) are creating new challenges for self-funded plans, potentially increasing costs and complicating plan management.
  • With new welfare plan disclosures, the risk of excessive fee lawsuits increases. Plan sponsors should follow ERISA's disclosure rules and review expenses to mitigate legal risks.
While the sweltering roil of temporary regulatory changes related to the COVID-19 pandemic may have cooled and the initial burst of SECURE 2.0 steam begins to dissipate, sponsors of employee benefit plans should keep their eyes on several hot-button items during the remainder of 2024 as these issues continue to percolate.

1. SECURE 2.0 Optional Provisions & Additional Regulatory Guidance

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