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Lisa D. Edwards

Lisa D. Edwards

IRS Announces Transition Period for Mandatory Roth Catch Up Contributions

IRS Announces Transition Period for Mandatory Roth Catch Up Contributions

On August 25, 2023, the IRS announced in Notice 2023-62 that higher-income participants in 401(k) and similar retirement plans have been given a two-year delay on the new requirement that they must designate their catch-up contributions to those plans as after-tax Roth contributions.

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