High-Earning Retirement Savers Are Losing Some of Their 401(k) Tax Break

As millions brace for the impending change, savers aged 50 and above are facing the discontinuation of a familiar tax advantage – catch-up contributions to 401(k)s. The alteration, stemming from recent Congressional regulations, means that starting next year, those with earnings surpassing $145,000 will see their catch-up funds channeled exclusively into after-tax Roth accounts.

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Source Article: https://www.wsj.com/articles/retirement-tax-breaks-401k-contributions-2868ffdc

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