Truth is stranger than fiction.
You know the Secure Act 2.0 that Congress passed last year?
It has all sorts of goodies for saving for retirement…. except the one where they took away pre-tax 401k catch-up contributions.
A catch-up contribution allows people 50+ to save an extra $6,000 in their 401k.
Well apparently Congress ACCIDENTALLY deleted the paragraph in the tax code that allows for these… and then passed it into law!
It wasn’t until the financial nerds read through the tax code that anyone realized they had taken it out!
As you can imagine the uproar was deafening and Congress was basically like “Our bad!” and they’ll fix it before it was due to take effect next year.
If you can’t trust the politicians, who can you trust?
The punchlines are endless.
