Secure Act 2.0 Section 603 - Configuring for "Spillover method"
Hello, in the Secure 2.0 Section 603 in PeopleSoft - FAQs (Doc ID 3103448.1) it states that PeopleSoft ".. supports the spillover method for catch-up contributions, an employee subject to the mandatory Roth catch-up requirement is deemed to have irrevocably designated any catch-up contributions as Roth contributions. Thus, an employee subject to the mandatory Roth catch-up provision does not need to make a separate Roth election for catch-up contributions."
How exactly does configuration support this? The FAQ states to, "..Update the Special Rollover section in the Savings Plan table" - does this mean the 'Rollover of Funds' tab on the Savings Plan Table?
Does PeopleSoft truly support the spillover method