Are employees required to have a Roth % of earnings amount >0 for Secure 2.0 now?
I have an open SR to assist with the set up for Secure 2.0, but I found some information elsewhere online stating that an employee must have an election greater than 0 in order for the rollover to work. Has anyone experienced this?
Here is the information I found:
Is the >0% Roth election requirement new?
No.In classic PeopleSoft Savings Plan processing, spillover to Roth has always required an active Roth election in most configurations.
What is new is Secure 2.0 is forcing changes (Roth catch‑up, Roth‑only catch‑up, higher limits, plan redesigns) that remove the edge cases where spillover appeared