BizTech Law Blog

Navigating Long-Term Part-Time Employee Eligibility Rules for 401(k) Plans

The landscape of retirement plan eligibility is shifting, and plan sponsors need to prepare for key compliance changes affecting long-term part-time (“LTPT”) employees. These new rules, mandated by the SECURE Act of 2019 and expanded under the SECURE 2.0 Act of 2022, aim to improve retirement plan access for employees who work on a part-time basis for extended periods of time. Employers who sponsor 401(k) plans must ensure they understand and implement these changes to remain compliant and support their workforce effectively. Read More ›

Categories: Employee Benefits, Employment, Retirement

Posted by: Amanda J. Dernovshek, Julie LaVille Hamlet, Mindi M. Johnson

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IRS Announces 2025 Cost-of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans

This blog has been updated since December 4, 2023. The data below is current.

The IRS has announced the 2025 cost-of-living adjustments for retirement plan and health and welfare benefit plan limitations. The charts below set forth the applicable limitations. Read More ›

Categories: Employee Benefits, Retirement

Posted by: Amanda J. Dernovshek, Julie LaVille Hamlet, Mindi M. Johnson

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IRS Makes it Easier to Correct Certain Retirement Plan Compliance Issues

On July 16, 2021, the IRS issued Revenue Procedure 2021-30, an updated version of the Employee Plans Compliance Resolution System (“EPCRS”). Retirement plan sponsors may use EPCRS to correct certain compliance mistakes, and avoid the adverse tax consequences associated with plan disqualification.

We have provided a summary of the changes below. Read More ›

Categories: Employee Benefits, Retirement

Posted by: Amanda J. Dernovshek, Julie LaVille Hamlet, Mindi M. Johnson

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