When the original SECURE Act was passed in 2019, compliance with its new long-term part-time employee rule seemed far in the future—way out to January 1, 2024. Well, that time is nearly upon us, so sponsors of 401(k) plans should be ready to let these long-term part-time employees start participating in their plans with the
SECURE 2.0
Just Catching-Up? Plan Sponsors Receive Eagerly Awaited Reprieve from Roth Catch-Up Implementation
With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement Roth catch-up contributions.
Catch-up contributions are a defined contribution plan feature many 401(k) and 403(b) Plan Sponsors are familiar with. Since being introduced…
The Good, the Bad and the Ugly in Secure 2.0: A Primer for Retail Employees
Attracting and retaining the right people is a critical issue for many retailers, and the 2022 federal retirement plan reform (SECURE 2.0) can help.
SECURE 2.0 requires employers to enroll long-term, part-time workers in their 401(k) plan if they work at least 500 hours per year for at least two consecutive years and are 21…
How the RMD Rules Are Like a New Puppy

On July 17, the Internal Revenue Service (IRS) issued an advance version of Notice 2023-54 (the Notice) which will include transition relief for plan administrators in connection with the change in the required beginning date for required minimum distributions (RMDs) under §401(a)(9) of the Internal Revenue Code (Code) under §107 of the Setting Every Community…
The IRS Starts the Summer with a Splash: New Guidance for Self-Correction
As discussed in an earlier blog post, the SECURE 2.0 Act of 2022 (the Act) expanded the Employee Plans Compliance Resolution System (EPCRS), a comprehensive IRS program for correcting common qualified retirement plan failures. Plan sponsors have three ways to correct mistakes under EPCRS: the self-correction program (SCP), the voluntary correction program…
National Employee Benefits Day is April 6th!
SECURE 2.0 Series Part 10: Emergencies, Hardships and Disasters? Not To Worry – We Have You Covered
Welcome to Part 10 (of 10) of our series about the SECURE 2.0 Act of 2022 (SECURE 2.0) (our other articles are on our JL Employee Benefits Blog Page). Among the many changes within SECURE 2.0, the following allow for increased flexibility for participants to access certain retirement plan accounts when faced with qualifying…
SECURE 2.0 Series Part 9: Now It’s Easier Than Ever to Clean Up Those Nasty Little Messes!
The SECURE 2.0 Act of 2022 (the Act) contains several provisions that liberalize the rules for fixing particular retirement plan administrative mistakes that happen occasionally. The IRS has a comprehensive program for correcting retirement plan failures, the Employee Plans Compliance Resolution System (EPCRS), including a self-correction program and a voluntary compliance program (VCP). …
SECURE 2.0 Series Part 8: New Lost and Found Program and an Increase to the Dollar Limit on Mandatory Distributions
Welcome to Part 8 of our series about the SECURE 2.0 Act of 2022 (SECURE 2.0) (our other articles may be found on our JL Employee Benefits Blog Post Page). Among the many changes within SECURE 2.0 are two provisions that may help employers reduce the number of retirement plan accounts of terminated vested…
SECURE 2.0 Series Part 7: Matching Contributions Based on Student Debt Repayments and Financial Incentives
Additional Tools for Employers to Encourage Retirement Savings
Matching Contributions on Student Debt Payments
One of the most eagerly anticipated provisions of the “SECURE 2.0” legislation is the ability for employers to “match” within a defined contribution savings plan employees’ payments of student debt. This provision is just one of the many changes in SECURE…