Annual Unenrolled Participant Notice Under SECURE 2.0 | Practical Law

Annual Unenrolled Participant Notice Under SECURE 2.0 | Practical Law

A notice to unenrolled participants in an individual account defined contribution plan (such as a 401(k) plan) of their eligibility to participate in the plan, including applicable deadlines for enrollment. This optional notice was created by the SECURE Act of 2022 (SECURE 2.0) to reduce the number of documents that plan administrators must send to unenrolled participants. It became effective for plan years beginning after December 31, 2022. This Standard Document has integrated notes with important explanations and drafting tips.

Annual Unenrolled Participant Notice Under SECURE 2.0

Practical Law Standard Document w-040-6995 (Approx. 6 pages)

Annual Unenrolled Participant Notice Under SECURE 2.0

by Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A notice to unenrolled participants in an individual account defined contribution plan (such as a 401(k) plan) of their eligibility to participate in the plan, including applicable deadlines for enrollment. This optional notice was created by the SECURE Act of 2022 (SECURE 2.0) to reduce the number of documents that plan administrators must send to unenrolled participants. It became effective for plan years beginning after December 31, 2022. This Standard Document has integrated notes with important explanations and drafting tips.