The IRS and Treasury issued final regulations on Monday, Sept. 15, that address several SECURE 2.0 Act provisions relating to catch-up contributions.
Signed into law on Dec. 29, 2022, SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. It builds on the original SECURE Act, which was signed into law in December 2019.
The regulations include final rules related to a SECURE 2.0 Act provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions, the IRS said.
The final regulations provide guidance for plan administrators on implementing and complying with the new Roth catch-up rule, reflecting comments received in response to the proposed regulations issued in January. Learn more.