Secure Act 2.0 and 401k Catch Up Contributions

The IRS has issued final regulations addressing SECURE 2.0 Act changes regarding retirement plan catch-up contributions, including optional higher catch-up contribution limits for participants between the ages of 60 and 63 and mandatory Roth tax treatment for catch-up contributions by participants with prior-year wages above $145,000 (as indexed). The regulations generally track those proposed in January, with some modifications. Here are highlights:

https://tax.thomsonreuters.com/news/irs-issues-final-secure-2-0-act-catch-up-regulations/