medium · Certified Financial Planner Psychology
Mr. Gupta, age 62, has 2026 FICA wages of $175,000. He wishes to maximize his 401(k) contributions for the 2026 tax year.
According to SECURE 2.0 provisions in force for 2026, which of the following is correct?
- He may contribute a catch-up amount of $8,000 to either a pre-tax or Roth account.
- He may contribute a catch-up amount of $11,250, but it must be made to a Roth account.
- He is limited to the standard elective deferral of $24,500 because his income is too high for a catch-up.
- He may contribute an enhanced catch-up of $11,250 to a pre-tax account.
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