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Larger catch-up contributions for older savers. If you're self-employed or work for a small business that offers SIMPLE IRA accounts to employees, the catch-up contribution rules are changing in 2025.
The catch-up contribution limit, for those 50 or older, is holding steady at $7,500. There’s an extra layer of icing for workers aged 60 to 63, thanks to the Secure 2.0 law — a higher catch-up ...
The catch-up contribution rate for participants ages 50 and over stayed the same as 2024 and remains at $7,500, with a maximum contribution of $31,000 for 2025. ... “Most of these rules are ...
The IRS gives the 50-plus cohort an added bonus by letting you make an extra $1,000 (for 2024) of catch-up contributions to your IRAs -- traditional, Roth, or both combined.
The agency delayed implementing a new rule that would have required catch-up contributions made by people earning over $145,000 to be directed into an after-tax Roth account. The rule change was ...
Automated changes, like increasing workplace 401(k) plan contributions, setting up direct deposits from paychecks into dedicated savings accounts, and arranging for monthly transfers into an IRA and/or 529 college savings accounts all add up quickly, McBride said.
A recent blog on the Charles Schwab website had a similar take, noting that the new provision gives savers another way to put their 529 assets to work. What to Consider With a 529-to-Roth IRA Rollover
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