THE ACCIDENTAL ENTREPRENEUR PART IV
As 2025 draws to a close, there are several areas in which high-net-worth taxpayers should be focusing their attention to maximize tax savings for the year and plan for changes to tax law in the year ahead. Use Qualified...more
Recently, we reported here on the new cost-of-living adjusted limits for qualified retirement plans published by the IRS in Notice 2025-67 (the “Notice”). In addition to the normal annual adjustments we previously reported...more
The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan and welfare plan limitations effective January 1, 2026. For ease of reference and comparison to prior years, we have placed the...more
The IRS on Nov. 17, 2025, announced the cost-of-living adjustments for limitations applicable to employee benefit plans under the Internal Revenue Code (the Code) for 2026, including an unexpected increase to the Roth...more
The Secure 2.0 Act of 2022 gave us the Roth catch-up mandate, a revenue raiser that has caused great consternation in the retirement plan community as plan sponsors, recordkeepers and payroll providers have grappled with...more
The IRS released the cost-of-living adjustments for qualified defined contribution plans for the 2026 tax year (IRS Notice 2025-67). The following chart summarizes the key increases applicable to defined contribution plans...more
The IRS has issued Notice 2025-67, announcing that many of the key retirement plan limits will increase next year. Most limits are subject to modest increases, with some remaining the same. For example, the compensation...more
The IRS has announced the 2026 cost of living adjustments to qualified plan limits. Below are the highlights, and our full historical chart can be found here for easy reference. In addition, the wage threshold for the Roth...more
Private sector employers in New York should get ready to comply with or certify their exemption from the New York State Secure Choice Savings Program (“New York Secure Choice”), the state’s mandatory employer-facilitated...more
The SECURE 2.0 Act of 2022 (“SECURE Act 2.0”) makes many changes impacting retirement plans. Among the most significant are changes affecting “catch-up” contributions. The IRS recently finalized regulations relating to these...more
After considerable delay, employer registration for the New York State Secure Choice Savings Program (“New York Secure Choice” or “the Program”) is now open. New York Secure Choice—which was established in 2021 by New York...more
On September 16, 2025, the U.S. Department of the Treasury and Internal Revenue Service (IRS) issued final regulations implementing the Roth catch-up contribution provisions of the SECURE 2.0 Act of 2022. These provisions...more
The IRS recently issued final guidance on a significant SECURE 2.0 provision that changes how older, high-income employees contribute to their retirement plans. ...more
New York is finally introducing the Secure Choice Savings Program, a state-sponsored retirement savings program for private-sector employees who do not have access to workplace retirement plans. Employers who meet certain...more
After a lengthy delay, New York Governor Kathy Hochul recently announced the official launch of the Secure Choice Savings Program (the Program). Established in 2021 by an amendment to the New York State General Business Law,...more
On September 15, 2025, the Department of the Treasury and the Internal Revenue Service (“IRS”) issued final regulations (“Final Regulations”) implementing key provisions of the SECURE 2.0 Act, including the Roth catch-up...more
Beginning January 1, 2026, high-income employees will be required to make catch-up contributions to workplace retirement plans on a Roth (after-tax) basis. ...more
As cooler fall weather descends upon us, the EB&C Practice Group at Kaufman & Canoles would like to take this opportunity to catch you up on a few hot topics in the employee benefits space. ...more
To balance the budget, SECURE 2.0 Section 603 added a requirement that catch-up contributions for certain “high earners” must be designated Roth, rather than pre-tax. ...more
The September Monthly Minute digs into the new final regulations that address SECURE 2.0’s Roth catch-up contribution rules. On September 15, 2025, the IRS released final regulations addressing various SECURE 2.0 catch-up...more
On September 15, 2025, the Internal Revenue Service (IRS) issued final regulations implementing provisions of the SECURE 2.0 Act related to age 50 catch-up contributions under employer-sponsored retirement plans....more
Participants in Section 401(k), Section 403(b) and governmental Section 457(b) Plans who are age 50 or older are able to make salary deferrals in excess of the limit on salary deferrals for younger participants. These...more
On September 15, 2025, the IRS unveiled final regulations requiring retirement plan sponsors to designate age 50 catch-up contributions as Roth contributions for participants with annual FICA wages greater than $145,000 (as...more
Yesterday, Treasury and the IRS issued highly-anticipated final regulations addressing several changes to the catch-up contribution provisions implemented by SECURE 2.0. ...more
New York has officially joined the growing list of states requiring certain private employers to offer retirement savings options. The New York Secure Choice Savings Program (Secure Choice or the Program) is moving closer to...more