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With a 401(k) plan, employees ... workers aged 50 and older can add up to $7,500 more annually as a catch-up contribution in 2025, the same amount as 2024. ... Threshold for highly compensated ...
401(k) plan limits. 2025. 2024. Maximum elective deferral for most employees age 50 and older (including catch-up contributions) $31,000. $30,500. Maximum elective deferral for employees 60, 61 ...
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. ... governmental 457 plans and the federal government’s Thrift Savings Plan. Catch-up contributions for those ...
The IRS updated the 401(k) contribution limits for 2025 and now allows people between 60 and 63 to save an additional $15,000 over four years. 401(k) Catch-Up Limits Are Going Up. Here's What That ...
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Thus, a person over 50 within 3 years of retirement and who has both a 457 and a 401(k) could defer a total of $66,500 [19,500 + 19,500 for 457 and 19,500 + 8,000 for 401(k)] into his retirement plans by using all of his catch-up provisions. The second type of catch-up provision is limited to unused deferral limits from previous years.
If you’re age 60–63, you’re eligible for super catch-up contributions in 401(k)s and other eligible retirement plans (403(b), governmental 457 plans, etc.).
One of the benefits that makes tax-deferred retirement accounts like 401(k) plans so attractive is their high contribution limits. This becomes especially appealing when your company offers a 401 ...