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 […]