Discussions
SuiteWorld is the largest annual gathering of the NetSuite community! It will be held in Las Vegas on October 6-9, 2025. Our customers and partners look forward to SuiteWorld every year as a place to hear the latest from NetSuite, get hands-on learning, and connect with each other. Register now!
Now, you can stay up-to-date with the latest discussions, helpful tips, and important announcements, all delivered straight to your inbox. Whether you’re looking to catch up on what you missed or just want a quick overview, our email digest has you covered. To learn more and to subscribe, click here.
SuitePeople U.S. Payroll: 457(b) Catch-Up Contributions for Employees Aged 60 – 63
This notice is intended for customers who are using SuitePeople U.S. Payroll. In line with Secure Act. 2.0 provisions, SuitePeople U.S. Payroll will now support 457(b) higher catch-up contributions of employees between the ages of 60 and 63.
What is Changing?
Starting May 23, 2025, NetSuite will support additional higher catch-up and special 457(b) catch-up contributions for employees aged 60 – 63 with the following new payroll items:
Payroll Item | Annual Limit (2025) |
|---|---|
457(b) Catch-Up | |
Govt. EE 457(b)-Catch-Up-60-63 | $11,250 |
Govt. EE 457(b) Roth-Catch up 60-63 | $11,250 |
Special 457(b) Catch-Up | |
Govt. EE 457(b) - Catch-up, Additional - 3 Years to Retirement-ROTH | $23,500 |
Important:
- As per IRS guidelines, an employee can only have one type of 457(b) catch-up contribution assigned. For compliance, ensure that an employee is assigned either the special 457(b) catch-up or any of the additional catch-up contribution payroll items.
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
In case you know someone who is new to NetSuite, we encourage you to direct them to our newly launched "New to NetSuite" page. This page is specifically designed to offer them information and guidance and help them make the most out of their NetSuite journey. Click here for more details.