Are you a part-time worker who isn’t eligible to enroll in your company’s 401(k) plan. In the future, that may no longer be the case. The new SECURE 2.0 law lowers the hurdles for long-term, part-time employees to participate in 401(k) plans. Part-time employees will need to continue to work at least 500 hours before becoming eligible but they’ll have to work for only two consecutive years, rather than the three years required by the original SECURE Act (enacted in 2019). This provision takes effect for plan years beginning Jan. 1, 2025.
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