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Secure Act 2.0 and Savings Plans in PeopleSoft (Doc ID 2885017.1)

Last updated on JULY 22, 2022

Applies to:

PeopleSoft Enterprise HCM Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Goal

If the latest Secure Act passes and the catch up for a 403(b) plan is required to be directed to a Roth/after tax plan, will the deductions for a plan have to be split into two, one for the regular contributions and one for the catch up?

Is PeopleSoft planning any enhancements to handle this new requirement?

Solution

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In this Document
Goal
Solution


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