Benefits Blast

401(k) plans may allow employees aged 50 or older to make elective deferrals over the annual limit; these deferrals are known as “catch-up” contributions.

With the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the subsequent SECURE 2.0 Act (SECURE 2.0) in 2022, the last few years have been a time of upheaval, confusion, and ongoing disruption within the retirement plan space.