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Individuals over 50 at the end of the calendar year can make annual 401(k) catch-up contributions up to $7,500 for 2024. With the 401(k) contribution limit at $23,000 for 2024, eligible ...
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 ...
Now the general catch-up contribution for 401(k)s is staying the same at $7,500 in 2025. So for many savers aged 50 and over, the maximum 401(k) contribution in the new year will be $31,000.
Catch-up contributions can also be made to Roth 401(k)s or split between traditional and Roth 401(k) accounts. While your tax break is not immediate with a Roth 401(k), you are eligible to make ...
However, because of the SECURE 2.0 Act of 2022, starting in 2026, all workers earning more than $145,000 per year must invest all catch-up contributions into a Roth 401(k).
The challenges with catch-up contributions. Considering the EPI research shows those between 55 and 64 tend to have around $10,000 set aside in retirement funds, super catch-up contributions could ...