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The IRS has postponed the catch-up contribution requirements until 2026.
Recently, the IRS announced the new catch-up contribution requirement under the SECURE 2.0 Act. The new rule affects older, higher-paid 401(k) participants to make catch-up contributions into an after-tax Roth account instead of the pre-tax traditional accounts. Although Congress meant for it to take effect in 2024, under pressure from employers, the IRS has postponed the effective date to 2026. Kelly Phillips Erb reports on how this delay will affect employers. Read Ms. Erb’s article here…
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