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https://www.huschblackwell.com/newsandinsights/secure-act-new-part-time-eligibility-rules-for-401k-plans#:~:text=Under%20the%20SECURE%20Act%2C%20401%28k%29%20plans%20must%20also,service%20%28i.e.%2C%201%2C000%20hours%29%20will%20now%20be%20eligible.
https://www.employeefiduciary.com/blog/401k-eligibility-when-to-let-employees-join-your-401k-plan
An ECP can’t exceed 12 months or require more than 1,000 hours of service. The initial ECP commences on the employee’s hire date. Subsequent ECPs can be based on the 1) employee’s anniversary or the 2) plan year, beginning with the plan …
https://www.huschblackwell.com/newsandinsights/secure-act-new-part-time-eligibility-rules-for-401k-plans
Under the SECURE Act, 401(k) plans must also allow participation by long-term, part-time employees who work at least 500 hours in three consecutive years (and have attained age 21). Thus, part-time employees who traditionally were excluded because they have never completed a year of service (i.e., 1,000 hours) will now be eligible.
https://www.irs.gov/retirement-plans/plan-sponsor/401k-plan-qualification-requirements
A 401(k) plan must satisfy certain requirements regarding when benefits vest. To "vest" means to acquire ownership. The vested percentage is the participant's percentage of ownership in his or her account. All participants must be fully (100%) vested in their 401(k) elective deferrals.
https://www.bfsg.com/determining-401k-plan-eligibility-requirements/
1,000 Hours-of-Service Rule Generally, a “year of service” is a 12-month period during which an employee completes the number of hours of service specified in the plan. A plan may not specify more than 1,000 hours for this purpose.
https://www.forusall.com/401k-blog/401k-eligibility/
As with simply enrolling into the plan, employers may set minimum age or service requirements that must be met before an employee is eligible to receive employer contributions. The maximum allowed age requirement is 21 years old. The maximum allowed service requirement is 1 year or 1 year with 1000 hours worked.
https://www.irs.gov/retirement-plans/401k-plan-fix-it-guide-eligible-employees-were-not-given-the-opportunity-to-make-an-elective-deferral-election-excluding-eligible-employees
Hours of service: A 401(k) plan may not require more than a year of service as a condition of being eligible to participate. A year of service means a calendar year, plan year or any other consecutive 12-month period during which the employee completes at least 1,000 hours of service starting on the employment commencement date.
https://www.dwc401k.com/blog/counting-hours-of-service-plan-eligibility
If he works at least 1,000 hours by July 31, 2021, he satisfies the eligibility requirement and enters the plan on October 1, 2021. If he does not hit 1,000 hours in his first year, then you would count his hours during his second anniversary year (from August 1, 2021 through July 31, 2022) to determine whether he meets eligibility.
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