File #: TMP-10581    Version: 1 Name:
Type: Resolution Status: Draft
File created: 10/28/2025 In control: Deferred Compensation Committee
On agenda: 11/19/2025 Final action:
Title: Update and discussion regarding Section 603 of the federal Secure Act 2.0, relating to the Roth catch-up contribution requirement for retirement plan participants with prior-year FICA wages exceeding the federal threshold. The update will include recent IRS guidance clarifying that this provision does not apply to employers or participants without reportable FICA wages. No action.
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Title

Update and discussion regarding Section 603 of the federal Secure Act 2.0, relating to the Roth catch-up contribution requirement for retirement plan participants with prior-year FICA wages exceeding the federal threshold. The update will include recent IRS guidance clarifying that this provision does not apply to employers or participants without reportable FICA wages. No action.