Is SAP doing some code/config change for this change below ?
Increase Age 50 401(k) Catch-Up Contribution Limit for Participants Ages 60 through 63
Under current law, employees who attain age 50 or older are permitted to make catch-up contributions in the Retirement Savings Plan in excess of the otherwise applicable salary deferral limits. The limit on catch-up contributions for 2023 is $7,500.
Effective January 1, 2025, the catch-up limit for employees who have attained ages 60, 61, 62, and 63 will be the greater of (1) $10,000 (indexed) or (2) 150% of the regular catch-up contribution limit
Bijay
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