3 Big Changes for Retirement Planning This Year

ShutterstockProfessional/ShutterstockFor retirement savers and retirees, the new year brings more than the usual inflation adjustments to retirement contributions. The retirement legislation known as Secure 2.0 will also continue to phase in, and the One Big Beautiful Bill Act (OBBBA) will have impacts too.Here’s a roundup of three key changes and some moves to consider. Roth-Only Catch-Up Contributions for High-Income 401(k) InvestorsThanks to a provision in the Secure 2.0 retirement legislation, high-income earners (with $150,000 or more in Federal Insurance Contributions Act income in the prior year) who are over 50 and investing in 401(k) or other company retirement plans must make catch-up contributions to their plans’ Roth option, rather than traditional tax-deferred contributions, starting this year.