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Kiplinger
Kiplinger
Business
Kelley R. Taylor

The Problem With 401(k) Catch-Up Contributions for 2024

IRS
Pink piggy bank looking over crevice in cracked ground for catch-up contributions story.

The SECURE 2.0 Act has substantially changed retirement account rules. Some of these changes have already taken effect and caused confusion. That has been problematic for some older adults who need clarity on crucial retirement planning aspects, like taking required minimum distributions (RMDs).

Another concern involved upcoming changes to catch-up contributions rules for 401(k) plans. These changes will eventually require catch-up contributions for higher-income earners to be made on a Roth basis.

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