WCC Posted January 25, 2023 Share Posted January 25, 2023 Section 603 ELECTIVE DEFERRALS GENERALLY LIMITED TO REGULAR CONTRIBUTION LIMIT This is the section that refers to Roth catch ups for those making $145k. This section states the following: (b) CONFORMING AMENDMENTS.— (1) Section 402(g)(1) is amended by striking subparagraph (C). Question: isn't that the subsection that allows catch up beyond the 402(g) limit regardless of compensation? If that section is stricken, what remaining section allows catch up beyond the 402(g) limit? I am curious if this has the unintended consequence of eliminating all catch ups - is that what this does? (If it does, I am sure it will be fixed so this isn't a fire drill question) Thanks Link to comment Share on other sites More sharing options...
C. B. Zeller Posted January 25, 2023 Share Posted January 25, 2023 https://www.asppa.org/industry-intel/major-secure-20-error-puts-catch-ups-jeopardy-ara’s-graff Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co Link to comment Share on other sites More sharing options...
WCC Posted January 25, 2023 Author Share Posted January 25, 2023 excellent, thank you. I heard this from someone but I hadn't seen anything written yet, this is very helpful. Thanks Link to comment Share on other sites More sharing options...
Lois Baker Posted January 26, 2023 Share Posted January 26, 2023 More today: https://www.planadviser.com/secure-2-0-error-threatens-catch-contributions-meaning-clear/ Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now