Sec. 6. Modification of regulations
126 words·~1 min read·
/bill/113/hr/4376/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of the Treasury shall promulgate regulations or other guidance that— simplify and clarify the rules regarding the timing of participant notices required under section 401(k)(13)(E) of the Internal Revenue Code of 1986, with specific application to— plans that allow employees to be eligible for participation immediately upon beginning employment, and employers with multiple payroll and administrative systems, and simplify and clarify the automatic escalation rules under sections 401(k)(13)(C)(iii) and 401(k)(14)(C) of the Internal Revenue Code of 1986 in the context of employers with multiple payroll and administrative systems.
Such regulations or guidance shall address the particular case of employees within the same plan who are subject to different notice timing and different percentage requirements, and provide assistance for plan sponsors in managing such cases.