The SECURE Act 2.0: The Most Impactful Provisions (#5-Catch-up Contributions for Higher Compensated Must be Roth Contributions)
Key Takeaways The SECURE Act 2.0 requires that catch-up contributions for higher compensated participants be treated as Roth deferrals. This provision is effective for tax years beginning after December 31, 2023 (that is, in 2024 for calendar year taxpayers). Unfortunately, due to a drafting error in the legislation, the provision in the Code that permits […]