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The IRS rolled out major changes to 401(k) contribution limits last week, including catch-up contributions for workers aged 50 and older. In an Oct. 21 announcement, the tax agency said the amount...
For some workers, 401(k) contributions might get maxed out every year. ... was $134,128 across all age groups in 2023, ... 60 and 63 have a higher catch-up limit of $11,250 for a total of $34,750 ...
The 401(k) contribution limit in 2023 is $22,500, with an additional $7,500 catch-up provision for those 50 and older, for a total of $30,000. ... To help reach your goal, consider maxing out your ...
Additionally, maximum Roth or traditional individual retirement account (IRA) contributions are now set at $6,500 (up from $6,000). The IRA catch-up contribution limit (a contribution that allows ...
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. ... In 2023, only 14% of ... The IRA catch‑up contribution limit for individuals aged 50 also stayed at $1,000 ...
401(k) plan limits. 2024. 2025. Change. Maximum salary deferral for workers. $23,000. $23,500 +$500. Catch-up contributions for workers age 50 and older. $7,500