In a shift that could spur broader adoption of Roth retirement accounts by both employers and workers, higher-income employees who make catch-up contributions to a workplace plan in 2026 will see a big difference in how those extra dollars are taxed. Under new SECURE 2.0 Act rules taking effect on January 1, employees age 50 […]
What to Do If You Plan to Make Catch-Up Contributions in 2026 Read More »
On September 15, the IRS issued final Treasury regulations implementing provisions of the SECURE 2.0 Act related to age-50 catch-up contributions under employer-sponsored retirement plans. While many plan administrators were hoping for additional time, the IRS did not extend the nonenforcement period with respect to the Roth catch-up requirement for higher earners, which must still
About Catch-Up Contributions for Higher Earners in 457(b)s Read More »
Key Takeaways The average retirement savings range widely by age, from just a few thousand dollars in your 20s to several hundred thousand by your 60s. Middle-class Americans have saved a median of $67,000, while Vanguard says the median balance in its defined contribution plans is just over $38,000. Catch-up strategies depend on your stage
Key Takeaways Warren Buffett believes that fair taxation from large corporations and wealthy individuals would reduce the tax burden faced by ordinary Americans. He argues balancing the tax system would allow the U.S. to manage the increasing fiscal deficit and provide enough funding for public services and infrastructure. Warren Buffett, the renowned billionaire investor and
What Warren Buffett Thinks About Billionaires’ Tax Contributions: A Revealing Insight Read More »