Important Tax Deadlines
IRS Announces Transition Period for Mandatory Roth Catch Up Contributions
September 5, 2023
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.