Treasury Moves to Create Guidance for New Retirement Plan Law

Treasury Department working groups are diving into myriad issues related to a new law governing tax breaks for retirees, a department aide said.

The SECURE Act, which took effect Jan. 1, rewards employers for sponsoring new retirement plans and gives employees more time to grow their tax-free savings.

The goal of the working groups is to release guidance addressing filing deadlines, notice requirements, and other administrative duties, William Evans, attorney advisor in Treasury’s Office of Benefits Tax Counsel, said Friday at an American Bar Association conference in Boca Raton, Fla.

Treasury is sorting through the SECURE Act to ...