Significant Expansion of Roth 401(k) and 403(b) Features Under the SECURE 2.0 Act
The SECURE 2.0 Act of 2022 likely will significantly increase balances in Roth accounts in retirement plans. For the first time, Roth treatment will be mandated for certain plan contributions. Plans not currently offering Roth contributions may decide they need to do so in order to meet this mandate. It is quite possible Congress could enact more Roth mandates in future legislation. Our latest alert discusses the four key Roth retirement plan-related changes in SECURE 2.0.