You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register
Get Started with Redwood for Oracle Cloud HCM   Begin Now

Secure Act 2.0 - When will new calculations take effect in Oracle

Received Response
25
Views
4
Comments
in Payroll and Global Payroll Interface (GPI) 4 comments

Summary:

Secure Act 2.0 - When will new calculations take effect in Oracle

Content (required):

I have reviewed Oracle's 2023 Q3 Payroll Legislative Announcement and "Payroll Configuration for Secure Act 2.0" documents. It mentions in the legislative announcement that the fast formula changes for Secure Act 2.0 (Section 603) will be delivered in 23D. Will these changes (to use the new field 'Eligible for Pretax Age Catch-up Contributions') take effect on 1/1/2024 or 1/1/2026? It is my understanding that section 603 of Secure Act 2.0 is not effective until 1/1/2026 so I want to make sure Oracle will not start using the new field ('Eligible for Pretax Age Catch-up Contributions') prior to 1/1/2026.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!