401(K) PLANS REQUIRED TO PERMIT LONG-TERM, PART-TIME EMPLOYEES TO DEFER
The COVID-19 pandemic brought changes to the retirement plan industry in 2020 with the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The challenges brought on by the pandemic on both business and personal levels seem to have overshadowed the passing of the Setting Every Community Up for Retirement Enhancement (SECURE) Act on Dec. 20, 2019. However, it’s important not to lose sight of the SECURE Act, as proper planning is necessary in order to avoid operational errors and additional work in the future.
