Groom principal and policy practice chair Brigen Winters was featured in the 401(k) Specialist article, “Glitch-Fixing: How 2024 Catch-Up Contributions Could Be Restored in SECURE 2.0,” where he spoke to SECURE 2.0 and an inadvertent error pertaining to catch-up contributions that would possibly eliminate the ability for participants of 401(k) plans to make such contributions in 2024.
“While the elimination of a certain section of the Internal Revenue Code creates a potential error, we believe there was a clear intention by Congress in the SECURE 2.0 legislation to allow for catch-up contributions going forward,” said Winters. “We understand that Congressional staff and the Department of the Treasury are aware of this potential error, and we are hopeful it can be addressed as part of regulatory guidance clarifying catch-up contributions are still permitted and/or a future legislative technical correction.”
To read the article, click here.
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