Employers: Do the Financial Incentives You Offer Employees to Enroll in Your 401k or 403b Plan Comply with SECURE 2.0’s “De Minimis” Requirements?
Blog
January 18, 2024
Late last month on December 20th, the IRS issued IRS Notice 2024-2 (“Notice”), an 81-page set of Q & A guidance that provides much needed information on how to comply with several law changes within the SECURE 2.0 law that President Biden signed into law in December of 2022. This blog post discusses the portion of the IRS guidance relating to the law change in Section 113 of SECURE 2.0, which now allows employers to reward employees with “small immediate financial incentives” for starting to contribute to a 401k or 403b plan.