Unfortunately, many 401(k) plan sponsors are under the misconception that all part-time employees can automatically be excluded from participation in their plans when, in fact, the Internal Revenue Code does not permit a plan to include a blanket exclusion of part-time employees.
This newsletter will describe the minimum service requirements for 401(k) plans and the effects of improperly excluding part-time employees.
Our newsletter covers topics of interest to retirement plan sponsors and their advisors. Every other month another online newsletter, called Benefit Insights, is added to our newsletter library.
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February 23, 2016 By WPC Retirement Services, Inc.
Part-Time Employees in 401(k) Plans
Filed Under: Newsletter Tagged With: Benefit Insights