SECURE 2.0 Section 603 would require catch-up contributions made by those making more than $145,000 in wages to be made after-tax, and plan sponsors say it is probably going to be the hardest mandatory SECURE 2.0 provision to implement.
Two trade groups have asked the Treasury Department for a temporary fix for a snafu in SECURE 2.0 preventing retirement plan participants from making catch-up contributions.
The research demonstrates that public-sector workers tend to feel safer spending more when they have a defined benefit retirement plan as their primary retirement account.