Hi,Any news on increase of 401K Catch-Up Contribution Limit for Participants 60-63 ?

Is SAP doing immoderate code/config alteration for this alteration beneath ?

Increase Age 50 401(k) Catch-Up Contribution Limit for Participants Ages 60 done 63
Under existent law, employees who attain property 50 oregon older are permitted to marque catch-up contributions successful the Retirement Savings Plan successful excess of the different applicable wage deferral limits. The bounds connected catch-up contributions for 2023 is $7,500.
Effective January 1, 2025, the catch-up bounds for employees who person attained ages 60, 61, 62, and 63 volition beryllium the greater of (1) $10,000 (indexed) oregon (2) 150% of the regular catch-up publication limit

Bijay