08.02.19
Chance for Secure Act Passage in Senate Dwindles as Recess Looms
by: Tracey Longo
Chances for Senate passage of the Secure Act are dwindling as the Senate’s scheduled Friday recess looms. The failure will mean a setback for advisors and broker-dealers interested in creating and branding pooled employer plans for the first time. “The Department of Labor went as far as it could with its multiple-employer plan final rule this week, but doesn’t have the authority to green-light the creation of pooled employer plans," explained Terrance Power, president of Platinum 401(k), a third-party plan administration service provider. "That provision is in the Secure Act.”
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