The  SECURE 2.0 Act  continues to impact the retirement landscape, and one of its most impactful provisions — the Roth catch-up contribution requirement for higher earners — is effective in 2026. With final regulations issued in mid-September, plan sponsors now have clarity on how to prepare for implementation.  Background: Understanding catch-up contributions and Roth  Catch-up contributions  allow participants aged 50 and older to contribute additional amounts to their retirement plans beyond the standard IRS limits. These contributions help older workers boost their retirement savings as they approach retirement age.  A  Roth contribution  is made with after-tax dollars, meaning the participant pays taxes upfront, but qualified withdrawals are tax-free. Catch-up contributions could traditionally be made on a pre-tax or Roth basis.  Under the  SECURE 2.0 Act , participants earning more than  $145,000 in FICA wages  in the pri...

Is workplace compliance on your radar?   The workplace compliance landscape is constantly evolving, and 2024 brings several significant changes that HR managers need to understand. With the implementation of the SECURE 2.0 Act, mastering these changes is crucial for maintaining compliance and maximizing benefits for your employees.  5 Key changes to watch  1. No RMD for Roth Accounts  One of the most impactful changes is the elimination of required minimum distributions (RMDs) for Roth accounts. This adjustment means participants may need to revisit and modify their withdrawal strategies.  2. Super catch-up contribution limits  Beginning in 2025, employees ages 60-63 will be given the opportunity to save more in catch-up contribution limits, saving the greater of $10,000 or 150% of the current limit. For example, using the current 2024 catch-up limit of $7,500, someone aged 60 will be permitted to contribute $11,250.  3. Student loan payments matc...