Karen Smith

Comments on SECURE Act Guidance in IRS Notice 2020-68

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Nova 401(k) Associates and our affiliate, Administrative Fiduciary Services Inc. (collectively “NOVA”), are writing to provide comments with respect to IRS Notice 2020-68 (the “Notice”). Nova is a third-party administrator serving over 6,500 employers. Our current practice also includes multiple employer plans (‘MEPs’). Nova’s primary focus is on employers with fewer than 2,000 employees. Our affiliate, Administrative Fiduciary Services Inc. (‘AFS’) serves as an independent administrative fiduciary and provides administrative fiduciary services and support.

Comments on Pooled Plan Provider Registration Proposed Regulations

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Nova 401(k) Associates and our affiliate, Administrative Fiduciary Services Inc. (collectively “NOVA”), are writing to provide comments with respect to the Notice of Proposed Rulemaking (“Proposal”) to provide a registration process for pooled plan providers (“PPP”) who wish to sponsor a pooled employer plan (“PEP”). Nova expects to register as a PPP and is supportive of the Department of Labor’s (the “Department”) regulatory initiative.