Attention Needed: Roth Catch-up Contributions with SECURE Act 2.0

What Does This Mean?

Plans without Roth will not be able to allow their participants over age 50 to make catch-up contributions.

Abbey Street has been busy assisting clients with this Roth component and ensuring the $145,000 threshold is calculated and communicated accurately before the effective date.

Please reach out to an Abbey Street team member today if you would like help understanding or implementing this provision.

Implementation Timeline

To learn more about the SECURE Act 2.0, the 92 provisions, and the impact they may have on your business’s retirement plan, we invite you to connect with our team of experts.

Sources and References

SECURE Act 2.0 Legislation: https://www.finance.senate.gov/imo/media/doc/Secure%202.0_Section%20by%20Section%20Summary%2012-19-22%20FINAL.pdf

Abbey Street SECURE Act 2.0 Implementation Timeline PDF: https://abbeystreet.com/wp-content/uploads/2023/03/Abbey-Street-Secure-Act-2.0-Implementation-Timeline.pdf

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About The Author

Jackie Stutzman

Jackie oversees Abbey Street’s retirement plan relationships and was named one of the 2021 Top Women Advisors by the National Association of Plan Advisors (NAPA). She earned her Master’s in Business Administration (MBA) from the Carlson School of Management at the University of Minnesota and has years of retirement plan consulting experience.

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