The SECURE 2.0 Act requires participants who earned more than $145,000 in FICA wages in the prior year from their current employer to make all catch-up contributions on a Roth basis beginning in 2024. For many employers, the primary concern is how to integrate the new rule with how payroll deductions for catch-up contributions are processed and then transmitted to plan recordkeepers.
Just Catching Up? Payroll Challenges Plague Roth Catch-Up Contribution Implementation
By Sarah L. Engle and Brian Tiemann on July 5, 2023
