Retirement Advisers Seek ‘Band-Aid Guidance’ on New SECURE Act

Benefits advisers are hoping government regulators act quickly to issue guidance on a new law featuring retirement-related tax breaks.

The Senate passed the SECURE Act on Dec. 19, and it went live on Jan. 1, a quick turnaround that’s got plan sponsors scrambling to catch up. Concerns range from providing employers some wiggle room on the effective dates to wrapping up related guidance projects that have been in the works for years.

The measure rewards employers for expanding their retirement programs, gives account holders more time to grow their nest eggs, and makes it easier for unrelated businesses to pool ...