Compliance Stuff

  Under current law, most 401(k) plans permit catch-up contributions that are equally available to all participants who are age fifty or over. Starting in 2025, the  SECURE 2.0 Act  allows eligible participants who are ages sixty to sixty-three to make “super-catch-up contributions” of up to the greater of: $10,000, or 150 percent of the regular catch-up limit. Quick Hits Starting in 2025, the SECURE 2.0 Act allows participants ages sixty to sixty-three to make “super-catch-up contributions” of up to $10,000 or 150 percent of the regular catch-up limit. Employers may need to amend their retirement plans by the end of 2024 to accommodate the new super-catch-up contributions or clarify their implementation. The introduction of super-catch-up contributions will require significant updates to payroll and recordkeeping systems to track different age categories and contribution limits. The annual catch-up contribution limits will vary depending on the participant’s age, as show...