Page 274 - DCAC February 2024 Files

permitted to make a matching contribution to a 401(k), 403(b) or 457(b) with respect to an
taxable years beginning after December 31, 2025, all age 50+ catch‐up contributions made
Expanding coverage for part‐time workers: Long‐term part‐time employees must now be
This provision was delayed earlier this year, previously this was scheduled to take effect in 2024
Catch‐up Contributions Must be Roth: Under current law, catch‐up contributions can be
made on a pre‐tax or Roth basis (if permitted by the plan sponsor). Effective in 2026, for
Retirement savings lost and found: A database will be established that collects benefits
allowed to participate in 401(k) and 403(b) plans if they have worked 500+ hours in two
owed to missing, lost, or nonresponsive participants and beneficiaries to search for the
Make sure to start counting hours worked (per calendar year) for any employees currently
Matching Contributions Based on Student Loan Payments (optional): Employers are
by employees making more than $145,000 per year must be made via Roth
as it stands
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Fiduciary Topics & Trends Legislative Update: SECURE 2.0 Provisions Effective 2024 (continued) employee’s qualified student loan program Provisions Effective 2025 and Beyond consecutive calendar years excluded from your plan contact information of the plan administrator