Secure 2.0 Section 603, Does a new Plan Type/Benefit Plan/Ded Code needed for Special Rollover
On PeopleSoft HCM and have applied the Secure 2.0 - Section 603 patches.
We have 2 different 401K plans. One is 401K (for all EE's who's age is less than 50) and the other one is 401K50+ (all EE's who are 50 and older). Each of these plans (401K & 401K50+), the deductions are both setup as Before and After Tax, as the EE can decide if they want to contribute All to Before Tax, All to After Tax or a combo of Before & After Tax. In order for the Catchup to automatically go into the Roth Rollover under the 401K50+ plan does a new Plan Type/Benefit Plan and