The North Haven Citizen | northhavencitizen.com
Jolly
Friday, February 24, 2023
opt out of the plan); The ability of part-time workers to participate in a workplace From A8 retirement plan once they’ve worked at least 500 hours for This provision may alleviate Emergency savings: New two consecutive years, a parent’s potential concern emergency savings accounts, rather than the current that they are over-funding a associated with an employthree-year threshold. 529 plan. For example, if a er’s retirement plan, can be child qualifies for scholarestablished for many emships, or school expenses are ployees. It will allow them to What does less than anticipated, leftaccumulate up to $2,500 in it mean for you? over 529 amounts could be the account, with penaltytransferred to the beneficia- free access to the funds alHow can these changes enry’s Roth IRA. lowed once a month, to hance your own retirement meet current needs. savings plan? It may be benRequires catch-up contribueficial to talk to your finantions to be made as Roth cial advisor to determine contributions using after-tax Other key changes how you might be able to dollars: Catch-up contribubeyond 2024 leverage the new rules listed tions for participants aged here and others to help se50 or older must be made on Other provisions of the SEcure your retirement savings a Roth basis under 401(k), CURE 2.0 Act that will take plan. 403(b) and governmental effect in 2025 include: The 457(b) plans. However, the ability of workers age 60 to requirement applies only if 63 to make catch-up contri- Jeff Jolly, CFP, is a Private the employee’s prior-year Wealth Advisor and Sr. Vice butions of $10,000 per year wages from the employer President with Ameriprise Fiabove the standard limit for sponsoring the plan exceed workplace retirement plans; nancial Services, LLC, in $145,000 in the previous tax- A requirement that employ- North Haven. He specializes able year. The option to in fee-based financial planers with 401(k) or 403(b) make pre-tax catch-up conning and asset management plans automatically enroll tributions will continue in strategies and has been in eligible employees in a 2023. When deciding practice for 16 years. Contact workplace savings plan, whether to make pre-tax or him at 203-407-8188 starting at a contribution Roth contributions for 2023, rate of at least 3 perext. 330. consider that your future cent (workers can choose to catch-up contributions will have to be Roth contributions if you earn more than $145,000. nate RMDs for workplacebased Roth savings plans, comparable to current rules for Roth IRAs.
Each night, a different NHHS educator will play Teddy Roosevelt in the “Newsies” production. As a fundraiser leading up to the show, NHHS students voted to choose the four teachers who will fill the role. “Newsies” will be performed Thursday, March 2 at 6:30 p.m., Friday, March 3 and Saturday, March 4 at 7 p.m., and Sunday, March 5 at 2 p.m.
From A7
If you are alone (or not) and are looking for a place to gather in fellowship, Faith United Methodist Church is the place to be. We are an open-minded congregation, where all are welcome. The church can be reached at 203-239-2469.
Let us help you find the perfect place to eat.
Whether it’s a celebration, date night, or just grabbing a bite to eat, this list of local restaurants is sure to satisfy your taste buds.
Find great local eats - MenusCT.com Adelphia Café
From A1
Church
Welcome to On The Menu.
No RMDs for Roth workplace plans: Under current law, those with Roth 401(k)s or Roth 403(b) plans are subject to the same required distribution rules as standard workplace plans. However, the new law will elimi-
‘Newsies’
A9
476 Washington Avenue North Haven, CT 06473 203-535-0149 Family owned/operated. Former proprietors of the Neptune Diner in Wallingford. Extensive menu for all tastes. Breakfasts, luncheons and special dinners. All baking on premises.
Colony Diner
611 N Colony Road Wallingford, CT 06492 (203) 269-9507 colonydiner.com Wallingford’s place to go for oldfashioned breakfast, lunch, and dinner. Proudly serving up delicious and hearty meals daily. Voted Best Diner 4 years running by Record Journal. Open seven days. Breakfast served all day.
Athena II Diner
320 Washington Ave, North Haven, CT 06473 203.239.0663 www.athena2diner.com Open 24 hours a day 7 days a week. Serving breakfast, lunch, & dinner. Accept Q Cards. Serving North Haven for 30 years. Daily specials and full liquor available.
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