Important Plan Update Regarding SECURE 2.0 Super Catch-Up Contribution Limits

As we have been communicating over the past two years since the adoption of SECURE 2.0 in December 2022, many provisions of the legislation have a delayed effective date.  One such provision affecting most 401(k) plans beginning in 2025 is Section 109 which provides for Super Catch-Up contribution limits for employees aged 60-63 only. Currently, 401(k), 403(b) and Governmental 457(b) employee deferrals are limited to an annual dollar threshold which the IRS announced recently will be ...

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Automatic Contributions Made Easy

Introducing Automatic Contributions Made Easy: Employer Guide and Best PracticesAutomatic contribution arrangements, also referred to as a negative deferral election, automatic enrollment, automatic deferral, etc. have been a valuable tool to increase 401(k) plan participation for several years.  A 2021 report released by Vanguard found that automatic enrollment increased participation by nearly 50% and among new hires specifically, participant rates tripled under automatic enrollment in ...

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