The Senate version of the Tax Cuts and Jobs act, released last week, included a provision that would eliminate catch-up contributions to 401(k) accounts for workers making more than $500,000 a year.
Over the weekend, Sen. Orin Hatch, R-UT, chair of the Senate Finance Committee, filed an amendment to the bill that would allow catch-up contributions but require that they be made on an after-tax, or Roth basis.
Hatch's amendment would increase the existing catch-up contribution limit of $6,000 to $9,000.
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