Compass
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AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Are You Counting LTPTEs for Your 401(k) Plan?
Nelson Mullins [Guidance Overview] Nov. 3, 2020 "The [SECURE Act] made changes in the qualified plan rules for eligibility and vesting with respect to so-called 'long-term part-time' employees (LTPTE). The changes are designed to allow LTPTEs to make elective deferrals to a 401(k) plan and, if the employer chooses to provide matching or nonelective contributions to LTPTEs, to permit vesting service based on 500 Hours of Service rather than 1000 Hours of Service. While the first LTPTEs will be eligible to elect deferrals in 2024, employers with 401(k) plans need to start now to identify and prepare for LTPTEs." |
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