Changes are coming to “catch-up” contributions under 401(k) retirement plans for employees aged 50 or older who are considered “high earners.”
The Internal Revenue Service and the U.S. Department of the Treasury finalized the rules last week for several provisions from the Secure 2.0 Act of 2022, which set the threshold for a high earner at more than $145,000 in wages, according to the Wall Street Journal.
