Secure 2.0 Configuration Changes Needed (Possibly)

Good morning,

From our testing, when Pretax or Pretax/Roth reaches $24,500, then only Roth catchup contributions are made, assuming employee has Roth catchup contributions selected. If employee does not have, then the only way to make Roth catchup is for employee to sign up with third-party vendor, and that change would flow to Oracle.

Our retirement team has expressed the following concern: regular/pretax should still be able to go to 24,500, regardless of Roth contributions.

Here is retirement team's concern: They do not view base and catchup buckets. They are only concerned about the total amount that can be contributed. If under 50, then you can only contribute $24,500. If over 50, you can contribute $32,500. They understand that if you meet the secure 2.0 criteria, that equates to $24,500 pretax and $8,000 Roth. (If you don't meet 2.0 criteria, then you could do all 32,500 as pretax).