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Employees Not Covered

Can we exclude part time employees?

Pursuant to ERISA, IRS, and DoL regulations, the maximum hours requirement for qualified retirement plans is 1000 hours per year. If a part time employee works less than 1000 hours in a year they may be excluded but if they work more than 1000 hours, they must be included in your plan.

However, for many reasons, some employers may want to include employees who work less than 1000 hours.  An experienced pension plan specialist will guide you through the many considerations to ensure that, in the end, the plan meets your goals and objectives.  Only after careful thought and consideration your retirement plan will be developed to meet IRS and DoL requirements.  A proper plan design will help assure successful implementation of a plan, in which most employees will participate, and in most cases, serve you and your employees for many years.

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Information is provided for review and consideration only. Please consult legal and tax advisors for practical advice pertaining to your business and personal situations.

This page was last reviewed and/or updated on Monday, October 21, 2013 09:58 AM

 

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