News & Analysis as of January 24, 2025

SECURE Act

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Federal Insurance Contribution Act (FICA) Taxes are United States federal payroll taxes levied to fund the Social Security and Medicare system. FICA Taxes burdens are divided between employers and employees and... more +

Act 3: To Roth or Not to Roth - That Is No Longer the Question for Some Catch-Up Eligible Individuals

Bricker Graydon LLP on 1/14/2025

The IRS this past Friday issued proposed regulations regarding mandatory Roth catch-up contributions. SECURE 2.0 amended the catch-up contribution provisions of the Code....more

And The Crowd Goes Wild: IRS Delays SECURE 2.0 Roth Catch-Up Rule Until 2026

Foley & Lardner LLP on 9/21/2023

While most of the country was gearing up for the U.S. Open, retirement plan sponsors and service providers collectively celebrated a big win on August 25 when the IRS delayed the new Roth catch-up rule until January 1, 2026. ...more

New Guidance - Secure 2.0 Roth Treatment of Catch-up Contributions

Best Best & Krieger LLP on 9/14/2023

On August 25, 2023 the Internal Revenue Service issued Notice 2023-62, which provides a critical 2-year delay in the enforcement of new retirement plan Catch-up Contributions rules passed under the Secure 2.0 Act of 2022....more

Just Catching-Up? Plan Sponsors Receive Eagerly Awaited Reprieve from Roth Catch-Up Implementation

Jackson Lewis P.C. on 8/28/2023

With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement...more

Just Catching Up? Payroll Challenges Plague Roth Catch-Up Contribution Implementation

McDermott Will & Emery on 6/27/2023

In this series of articles, we explore the implications of SECURE 2.0’s changes to catch-up contributions and how employers should respond. The SECURE 2.0 Act requires participants who earned more than $145,000 in FICA...more

Sponsors of 401(k) Plans Without Roth Provisions May Want to Add Them Before 2024

Houston Harbaugh, P.C. on 5/17/2023

Our prior bulletin summarized the multitude of changes applicable to 401(k) and other retirement plans under the recently enacted “SECURE 2.0” law. This bulletin focuses on one of those changes and a potential reason for...more

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