02 Oct

Posted at 17:02h in Business Operations White Papers by . .

HR Compliance Bulletin headerOn Sept. 2, 2020, the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) released Notice 2020-68, which provides guidance on certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act).

Key SECURE Act provisions addressed by the notice include:
  • The small employer automatic enrollment credit (Section 105);
  • The repeal of the maximum age for traditional Individual Retirement Account (IRA) contributions (Section 107);
  • Participation of long-term, part-time employees in 401(k) plans (Section 112); and
  • Qualified birth or adoption distributions (Section 113);