SECURE Act 2.0 provides that, beginning in 2024, employees with more than $145,000 in prior-year compensation may only make catch-up contributions on a Roth basis. Many stakeholders raised their concern with the Administration. For example, the American Benefits Council filed an active request, signed by over 100 industry groups, with the House Ways and Means Committee to delay the effective date of this provision because of systems challenges. The request sought a two-year delay of the Roth catch-up requirement, plus any additional time necessary to:
1. Give state and local governments the opportunity to consider and enact needed legislation and
2. Avoid requiring changes during the term of a collective bargaining agreement or other applicable
binding agreements
