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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...
The IRA catch-up contribution limit (a contribution that allows people aged 50 or older, or who have 15 years of service for a 403(b) plan, to make additional contributions) remains at $1,000 ...
The IRS recently announced some welcome news for higher-income workers with 401(k)s and similar retirement plans. The agency delayed implementing a new rule that would have required catch-up ...
For those 50 and over, they can save an additional $7,500, up from last year's $6,500 catch-up contribution limit. In total, workers who are 50 and older can contribute up to $30,000 starting in 2023.
As part of SECURE Act 2.0, passed in late 2022, individuals age 60, 61, 62 or 63 are now allowed to make “super catch-up contributions” to their 401(k) and other retirement plans. These ...
The IRS recently announced new retirement savings contribution limits for 2023. The amount individuals can contribute to their 401(k) plans in 2023 will be $22,500 -- up from $20,500 for 2022 ...