IRS Issues New Long-Term, Part-Time Employee Guidance Under The SECURE 2.0 Act For 403(b) Plans

Contributor

McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. With more than 1,100 lawyers across several office locations worldwide, our team works seamlessly across practices, industries and geographies to deliver highly effective solutions that propel success.

Explore Firm Details

On October 3, 2024, the Internal Revenue Service (IRS) released Notice 2024-73, which provides guidance on the application of nondiscrimination rules...

United States Employment and HR

On October 3, 2024, the Internal Revenue Service (IRS) released Notice 2024-73, which provides guidance on the application of nondiscrimination rules under Internal Revenue Code § 403(b) for long-term, part-time employees. The notice also announces that the final regulations, which the IRS will issue for 401(k) plans on long-term, part-time employees, will apply to plan years beginning on or after January 1, 2026.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Find out more and explore further thought leadership around Employment Law and Labour Law