Update

On August 25, 2023, the Internal Revenue Service (IRS) published Notice 2023-62 to provide guidance on the SECURE 2.0 Act requirement related to Roth catch-up contributions for high earners. This guidance provides for a two-year administrative transition period that will delay the implementation date of the provision in the SECURE 2.0 Act that requires age 50 catch-up contributions to be made on a Roth basis for individuals earning over $145,000 in prior year wages. The provision was initially