News & Analysis as of

403(b) Plans Roth Conversions

Warner Norcross + Judd

IRS Delays Roth Catch-up Requirement to 2026

Warner Norcross + Judd on

The SECURE Act 2.0, enacted on December 29, 2022, is the most significant piece of legislation affecting retirement plans in many years. One provision in the Act causing headaches for plan sponsors, payroll providers and...more

Lowenstein Sandler LLP

IRS Delays Effective Date of Roth Catch-up Requirement

Lowenstein Sandler LLP on

On August 25, the Internal Revenue Service issued Notice 2023-62 (the Notice) delaying implementation of a provision of the SECURE 2.0 Act of 2022 that, commencing in 2024, would have required catch-up contributions by...more

Jackson Lewis P.C.

Just Catching-Up? Plan Sponsors Receive Eagerly Awaited Reprieve from Roth Catch-Up Implementation

Jackson Lewis P.C. on

With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement...more

Warner Norcross + Judd

SECURE 2.0 is Finally Here! Warner Analysis Part 1

Warner Norcross + Judd on

The long-awaited sequel to the SECURE Act enacted in 2019 is finally here. On December 29, 2022, President Joe Biden signed the Consolidated Appropriations Act of 2023, which includes the SECURE 2.0 Act of 2022 (“SECURE 2.0”...more

Sherman & Howard L.L.C.

SECURE 2.0 Changes for the New Year: Key Takeaways for Retirement Plan Sponsors, Part 2 – Catching Up on Catch-Ups

On December 29, 2022, President Joe Biden signed the SECURE 2.0 Act of 2022 (“SECURE 2.0”), into law as a part of the Consolidated Appropriations Act, 2023. SECURE 2.0 includes a wide range of changes geared toward...more

Jackson Lewis P.C.

More Roth, More Catch-Up, and Catch-Up As Roth, Part 1 of the JL SECURE 2.0 Series

Jackson Lewis P.C. on

The SECURE 2.0 Act of 2022 (SECURE 2.0) contains several provisions that allow the federal government to have its cake (more tax dollars) and eat it too (more retirement savings, easing Social Security challenges). With...more

McDermott Will & Emery

IRS Expands Guidance on In-Plan Roth Conversions

Recent IRS guidance clarifies a number of outstanding questions regarding “in-plan conversions” of non-Roth balances to Roth balances in 401(k), 403(b) and governmental 457(b) plans. In particular, the guidance confirms that...more

Proskauer - Employee Benefits & Executive...

IRS Provides New Guidance on In-Plan Roth Rollovers

On December 11, 2013, the IRS issued IRS Notice 2013-74 which provides guidance on in-plan Roth rollovers. An in-plan Roth rollover is a rollover within a Section 401(k), Section 403(b) or governmental Section 457(b) plan to...more

BakerHostetler

Modification of Roth In-Plan Conversion Rules Provides Participants Greater Flexibility

BakerHostetler on

Tucked in the provisions of the year-end financial cliff legislation (the "American Taxpayer Relief Act of 2012") was a provision which creates greater flexibility in the conversion of qualified plan dollars to tax-free...more

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