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ARTICLE · 14 FEBRUARY 2023

SECURE 2.0: Oops! So The Employer-Sponsored Retirement Plan Overpaid?

Ogletree, Deakins, Nash, Smoak & Stewart
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SECURE 2.0 may cause some insecurity. However, the law's changes to the treatment of overpayments from employer-sponsored retirement plans may replace that insecurity with relief.

United StatesEmployment and HR
David Rosner
David Rosner
Conley Scott III
Conley Scott III
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SECURE 2.0 may cause some insecurity. However, the law's changes to the treatment of overpayments from employer-sponsored retirement plans may replace that insecurity with relief.

In the case of overpayments, SECURE 2.0—a sweeping overhaul of private-sector retirement plan laws enacted late last year—does not require retirement plan fiduciaries to seek recovery of the overpayments from participants or their beneficiaries. That does not mean that a plan fiduciary is forbidden from seeking recovery or reducing future payments. SECURE 2.0 provides flexibility. However, past overpayments to a participant cannot be recouped from the participant's beneficiary, including a spouse, surviving spouse, or the participant's estate.

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