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IRS Announces Delay of Implementation of SECURE 2.0 Act’s Roth Catch-up Contribution Provision for Two Years

Benefits Notes

If you have any additional questions regarding the impact of Notice 2023-62 on your retirement plans, please reach out to a member of Stinson’s employee benefits and executive compensation practice group. The transition relief provides, among other things, that: As anticipated, SECURE 2.0

401(k) 52
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AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

Under the ARPA, the 10% interest rate corridor is reduced to 5% for plan years beginning in 2020 through 2025, the 5% per year expansion will be delayed to the 2026 plan year (and, accordingly, the 30% corridor is reached in the 2030 plan year), and a permanent 5% interest floor is established for the twenty-five year averages.