US. New IRS Rule Will Reshape 401k Contributions for Millions of Workers
A new rule issued by the IRS will alter how higher-income Americans approaching retirement can save in their 401(k) and other tax-deferred workplace retirement plans. The regulation comes from the SECURE 2.0 Act of 2022 and is scheduled to take effect at the start of the 2026 tax year. According to reporting by CNN, the change introduces new conditions on catch-up contributions for individuals who earned $145,000 or more in the prior year. These contributions will be redirected into Roth...
