2020 has brought retirement plans non-stop changes from Washington, D.C. Right before the beginning of the year, the SECURE Act was signed into law. At the time, the Act was the most substantive enhancement to the retirement system in over a decade. Fast forward to March, when in response to the coronavirus pandemic, the CARES Act was signed with a portion of the Act allowing individuals impacted by COVID-19 increased access to retirement savings. In June, new ESG guidance was published, followed by the new draft fiduciary rule in July.
We cover these developments, plus much more in this edition of our yearly Regulatory Update.