Proposed Regulations Impact Retirement Plans for Certain Part-Time Employees: FAQs for Employers
Employers that sponsor 401(k) or 403(b) plans should be aware of eligibility and participation rules for their long-term, part-time (LTPT) employees. Historically, such plans could exclude employees who worked fewer than 1,000 hours during the plan year. But SECURE Act 1.0 introduced the concept of the LTPT employee — and SECURE Act 2.0 expanded the ...
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