The IRS has issued proposed regulations addressing several SECURE 2.0 Act provisions related to catch-up contributions. These are additional amounts that employees age 50 and older can contribute to 401(k)s and other employer plans. The proposed regs provide guidance for plan administrators. They include proposed rules related to a provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions. The proposed regs also provide guidance related to the increased catch-up contribution limits now allowed for retirement plan participants age 60 to 63. For more details: https://bit.ly/4h9k2TF
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