Thursday, December 28, 2023
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Comprehensive Service
Earlier this year, we communicated advising of SECURE Act 2.0 requirements for Long-Term, Part-Time (LTPT) employees. We have now updated the 'Next Steps' process, and you can find those updates below in this Insights and Solutions article.
The following features are now available to assist with identification of, and maintenance for, LTPT employees based on these requirements:
- LTPT Employee Indicator in ADP Workforce Now®
New field enables identification of LTPT employees and can also be used for reporting these employees to 401(k) plan administrators.
- Long-Term, Part-Time Employee Hours report
Enables Hours of Service reporting during 2021, 2022 and 2023 401(k) plan years
Reference Setting Every Community Up for Retirement (SECURE) Act, Long-Term, Part-Time Employees (LTPT) for information and instructions to use these features.
Note: Please contact your ADP® Service Representative if you wish to exclude LTPT employees from receiving 401(k) match contributions, as existing match calculations will need to be updated to ensure this exclusion.
Below please find the previous information sent on this topic with additional details added to the paragraph in red.