New 401(k) catch-up regulation could affect more Long Islanders
Recent changes to federal retirement plan regulations could significantly impact many residents of Long Island, where salaries tend to be high due to the region’s elevated living costs, experts indicate. Starting in 2027, Americans aged 50 and above earning $145,000 or more will be required to contribute their catch-up contributions to 401(k) plans as after-tax […]
A new regulation will affect the tax-deferred status of certain 401(k) contributions. Here’s who will be impacted.
Next year, new regulations will impact high-income individuals making “catch-up” contributions to 401(k) plans or similar tax-deferred retirement accounts. These rules, established by the Safe 2.0 Retirement Act, will effectively remove the immediate tax benefits traditionally associated with such catch-up contributions alongside standard 401(k) contributions, as well as those from 403(b), 457(b), simplified employee pension […]
Biden’s ATF Regulation on Gun Sales Cannot Be Applied to NRA Members
ATF Regulations Blocked by U.S. District Judge On Tuesday, U.S. District Judge Corey L. Maze issued a ruling that effectively blocks certain ATF regulations, particularly those related to the “engaged in the business” rule. This decision appears to favor two plaintiffs, Don Butler from Talladega and David Glidewell from Ragland, as well as members of […]
Trump Triumphs Over Newsom as California Abolishes Electric Truck Regulation
Trump’s Response to Newsom’s Emission Plans in California President Donald Trump recently engaged with California Governor Gavin Newsom regarding the latter’s setbacks in promoting electric vehicles. Back in 2022, the California Air Resources Board (CARB) aimed to push for trucks as a part of Newsom’s electric vehicle initiative. Fast forward to 2023, and Calmatters.org noted […]
Peter Thiel’s $5 billion tax-exempt account led to a new 401(k) regulation affecting high-income Americans over 50.
Starting in the 2026 tax year, older workers with incomes exceeding a certain limit will be unable to make traditional 401(k) catch-up contributions. Specifically, those over 50 who earned more than $145,000 in the previous year will only be allowed to make post-tax (Roth) catch-up contributions. The IRS plans to evaluate the final regulations and […]
Treasury and IRS complete regulation on 401(k) catch-up contributions and its implications for higher-income earners.
kate_sept2004 | E+ | Getty Images This week, the IRS and the US Treasury wrapped up new provisional guidelines from the Safe 2.0 Act of 2022, which includes provisions for catch-up contributions for workers aged over 50 in 401(k) and other retirement plans. Starting in 2027, contributions for catch-up will change, particularly for those who […]
RFK Jr. Focuses on China in Vape Regulation Efforts
Federal Raids Target Chinese-Made Steam Products Health and Human Services Secretary Robert F. Kennedy Jr. announced that federal agents executed nationwide raids to seize Chinese-made steam products, indicating that this marks the start of a broader crackdown on these items. “As our children face health issues, the Chinese are profiting, and we’re putting a stop […]
Senate Democrats present plan for cryptocurrency market regulation bill
Senate Democrats Outline Principles for Cryptocurrency Regulation On Tuesday, Senate Democrats laid out key principles for a bill designed to govern cryptocurrency markets. This framework, proposed by Ruben Gallego (D-Ariz.), Mark Warner (D-Va.), Kirsten Gillibrand (D-N.Y.), Cory Booker (D-N.J.), among others supportive of cryptocurrency, addresses the fundamental issues related to market structure laws. In a […]
Specialists urge for regulation of AI as families take legal action regarding teen suicides
Calls for Action on AI’s Impact on Youth There’s a growing concern over the influence of AI on young lives, with experts urging lawmakers to act before more tragedies occur. “If an intelligent alien landed tomorrow, I wouldn’t suggest it play with kids,” Jonathan Haidt, author of *The Unreliable Generation*, remarked. “But that seems to […]
Following a Significant House Vote, Trump Signs GENIUS Act, Changing Stablecoin Regulation
Trump’s Push for Cryptocurrency Regulation in 2024 Campaign President Donald Trump is highlighting advancements in cryptocurrency regulation as a central aspect of his 2024 campaign. Shortly after taking office, he issued a Presidential Order that encourages the federal government to adopt policies aimed at strengthening U.S. leadership in digital assets while ensuring economic freedom. This […]