- Posts by David DiazSenior Counsel
Clients value attorney Dave Diaz’s practical approach and strategic advice on a variety of employee benefits matters relating to qualified retirement plans, executive compensation arrangements, health and welfare plans, and ...
Section 603 of the SECURE 2.0 Act of 2022 (“Section 603”) implements changes to catch-up contributions and is applicable to employers who maintain a 401(k), 403(b), or 457(b) plan with participants who are age 50 and older and whose income from the prior year exceeded $145,000. Section 603 requires that catch-up contributions must be made as Roth contributions (i.e., after tax basis) for those earning more than $145,000. Originally, Section 603 was set to become effective starting in 2024. However, on August 25th, 2023, in response to many industry groups urging for an ...
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