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1The SECURE 2.0 Act of 2022 increases the catch-up limit for participants who attain age 60 – 63 during the calendar year. In the year the participant attains age 64, the limit returns to the age 50 catch-up limit. Check with your plan sponsor to see if this new catch-up limit is available in your plan.
2 The salary definition in the designated year determines the participant’s status as of the first day of the next year. For example, if a participant’s HCE salary exceeds the limit in the prior plan year, they are an HCE for the current plan year.
3 If a participant’s FICA wages exceed the HPI salary threshold in the previous calendar year, then they are an HPI for the current calendar year and must make age-based catch-up contributions as Roth for the current calendar year
