Employers who don’t offer retirement planning advice should encourage their older employees, particularly those 60-63, to consult with accountants or tax preparers to benefit from the “super” catch-up contributions, recommends Firstrade.
With regard to SECURE 2.0' s new catch-up provision, the IRS and the Treasury won’t allow employers to require that plan participants make Roth contributions, according to newly proposed guidelines released on Friday.
A recent case clarifies a significant legal principle that owners of businesses that are obligated to contribute to multiemployer pension plans (MEP) must know.
The Retirement Simplification and Clarity Act, which would provide pre-retirees with a more streamlined process and flexibility to choose savings options right for them, was introduced on Capitol Hill yesterday.
After commenters expressed concerns on challenges in implementing the final regulations reflecting changes made by SECURE 2.0, the IRS and the Treasury announced a new effective date.