Teresa A. Napoli

Aug 29, 2023 | lexology.com | Beth J. Dickstein |Teresa A. Napoli

On Friday, the U.S. Internal Revenue Service (IRS) issued Notice 2023-62, which contains a first bite of eagerly awaited guidance regarding catch-up contribution changes under the SECURE 2.0 Act of 2022 (SECURE 2.0). Two-Year Administrative Transition Period for New Roth Catch-Up Requirements. The notice announced a two-year administrative transition period with respect to new Roth catch-up contribution requirements for certain higher-income participants in 401(k) plans.