SECURE Act 2.0 said those 50 and older earning $145,000 or more would be restricted to making catchup contributions to designated Roth accounts (i.e., contributions with after-tax dollars) starting in 2024. The IRS postponed this rule until 2026. This means eligible individuals can make catchup contributions to their accounts with pre-tax dollars. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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