Seyfarth Synopsis: The IRS recently issued Notice 2025-68, providing initial guidance on a new savings vehicle: Trump Accounts, created under Section 530A of the Internal Revenue Code by the One, Big, Beautiful Bill Act (OBBBA). While proposed regulations are still forthcoming, the recent IRS guidance provides a high-level overview of various Trump Account features, including
Wednesday, October 22, 2025
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The Treasury and IRS have released final regulations implementing key SECURE 2.0 provisions, including the Roth catch-up requirement for high earners and
Seyfarth Synopsis: Earlier today, Treasury and the IRS issued highly-anticipated final regulations addressing several changes to the catch-up contribution provisions implemented by SECURE 2.0. Proposed regulations were issued earlier this year (see our Legal Update here), and administrative questions lingered following the issuance of the proposed regulations. The much-welcomed final regulations answer a number of open questions that we had been grappling with following the enactment of SECURE 2.0 and the issuance of the proposed regulations earlier this year. Below is a high-level overview of several pressing issues that have been addressed by the final regulations. We will be issuing a more comprehensive Legal Update on the final rules in the coming days.
Under the proposed regulations, designated Roth contributions made by a participant at any point within a calendar year must be counted towards satisfying the Roth catch-up requirement (“Roth Catch-Up Requirement”). This provision caused administrative concerns and several commenters asked that the final rules make this permissive so that plans had the choice as to whether to include Roth deferrals made by the participant at any point in the calendar year towards the Roth Catch-Up Requirement. The final regulations provide plan administrators that use the deemed Roth approach with some – but not universal – flexibility. The final regulations do not seem to go so far as making this optional approach available in all situations, which we will cover in the forthcoming Legal Update. Continue Reading Final Catch-Up Rules: What Now? (Spoiler Alert: There is No Extension)
Benefits and Beyond: What Happens to PTO, Health Insurance, Retirement Plans, and other Benefits?
When an employee passes away, their benefits don’t just vanish into the HR ether. There’s a surprising amount of paperwork, plan rules, and tax codes that come into play—and yes, you’ll probably need to call your benefits administrator (and maybe your
Let’s face it—no one wants to think about what happens when an employee dies. It’s a deeply human moment, and yet, somewhere between the condolences and the memorial service, someone in Human Resources is quietly asking: “So… what do we do about their final pay?”
It’s not cold-hearted—it’s compliance. When an employee passes away, employers