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SECURE 2.0 Surprises for Plan Sponsors and TPAs: Accelerated Long-Term, Part-Timer Savings Plan Eligibility
Milliman Link to more items from this source
May 17, 2022

"Section 116 of the bill accelerates to two years (from three years) the number of years a plan sponsor must track long-term, part-time employees for eligibility to start paycheck deferrals to the employer savings plan. If this bill becomes pension law (and early handicapping suggests it could be enacted in 2022) plan sponsors and governance boards will need to assess the impact of this mandatory eligibility change for their retirement programs as they emerge from the complexities of two years of pandemic-related disruption in business operations and workforce management."

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