Scott Kenkel
Subscribe to Scott Kenkel's PostsScott Kenkel focuses his practice on employee benefits and executive compensation matters. He has experience assisting clients with regulatory compliance matters related to tax-qualified retirement plans and executive compensation arrangements. He also regularly works with clients on benefits and compensation issues in connection with corporate transactions. Read Scott Kenkel's full bio.
A Long-Term, Part-Time Employee or Not a Long-Term, Part-Time Employee, That Is the Question
By Sarah L. Engle, Brian Tiemann, Haley Dow and Scott Kenkel on Jan 25, 2024
Posted In Employee Benefits, Retirement Plans
Under the SECURE Act and the SECURE 2.0 Act, employers must provide long-term, part-time employees the opportunity to make elective deferrals under their 401(k) plans and, beginning in 2025, their 403(b) plans. This new rule is fraught with complexity and has generated numerous questions about how the requirements apply. But in talking about the new...
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IRS Says Keep Those Class Exclusions Classy Under Long-Term, Part-Time Employee Rules
By Sarah L. Engle, Brian Tiemann, Haley Dow and Scott Kenkel on Jan 3, 2024
Posted In Employee Benefits, Retirement Plans
Beginning in 2024, employers and plan sponsors will need to implement new minimum eligibility rules, enacted by the SECURE and SECURE 2.0 Acts, that significantly expand eligibility for long-term, part-time employees to participate in employer-sponsored retirement plans. The new rules require that employers who maintain such plans provide employees who work at least 500 hours...
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Last-Minute Guidance Leaves Little Time for Long-Term, Part-Time Employee Changes
By Sarah L. Engle, Brian Tiemann, Haley Dow and Scott Kenkel on Dec 20, 2023
Posted In Employee Benefits, Retirement Plans
The Internal Revenue Service (IRS) recently issued new guidance clarifying key aspects of the broadened retirement plan eligibility rule for long-term, part-time employees under the SECURE 2.0 Act. However, with the new rule effective for 401(k) plans beginning January 1, 2024, the guidance leaves employers and plan sponsors very little time to make changes to...
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