SECURE ACT Update: Coverage and Plan Participation for Long-Term Part-Time Employees

October 27, 2020

Signed into law on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020, The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules.  As part of our series of continuing updates on different aspects of the SECURE Act that may impact (or provide opportunities for) employers that sponsor retirement plans (with our earlier alerts in this series available here, and here), this alert provides an overview of changes to rules related to the eligibility of long-term part-time employees to contribute to employer-sponsored 401(k) plans.

To continue reading our alert on this topic, please click here.