Compass Need to Know Webisode #9: Part 3 on Secure Act 2.0; Long-Term, Part-Time Employee Rules

Including long-term, part-time employees in 401k plans has been a hot topic since the Secure Act was passed in 2020, but there was a need for more clarification before any action could be taken. On November 24, 2023, in a surprise move, the IRS released proposed regulations that were effective December 31, 2023. If you have any employees that meets the LT/PT employee criteria, then this is a must-see for a deep dive into all the details.