IRS Updates Rules on 401k Catch-Up Contributions for Older Workers
The Treasury Department and Internal Revenue Service (IRS) have finalized regulations on retirement “catch-up” contributions, clarifying how provisions from the SECURE 2.0 Act will apply to workers and employers in the coming years.
Why It Matters
Catch-up contributions allow employees aged 50 and older to set aside extra money in workplace retirement plans.
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