SB 1234, the California Secure Choice Retirement Savings Program, activated January 1, 2017. It mandates that any employer with 5 or more employees not participating in a retirement savings program be enrolled over the course of the next few years as follows:
On October 27, 2016, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations and compensation thresholds for pension plans and other retirement-related items for tax year 2017
Beginning April 10, 2017, the new Best Interest Contract Exemption and the Principal Transactions Exemption DOL ruling will begin a phased implementation that will allow for transition until January 1, 2018. Advisors, marketing organizations, carriers -- and everyone in between – are impacted by the ruling. The Labor Department indicated that investors waste $17 billion annually in excessive advisory fees as a major reason for this legislation..
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