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For the 2025 tax year, the IRS is increasing the annual contribution limit for 401(k) plans by $500 from the current limit of $23,000 in 2024 to $23,500 in 2025. Those limits also apply to several ...
Saving for retirement will get a modest boost in 2025 thanks to higher contribution limits and the phase-in of provisions stemming from the Secure 2.0 Act, which became law at the end of 2023.
For plans like a 401(k), 403(b), Thrift Savings Plan, some 457 plans and Simple IRAs and 401(k) plans, the total contribution limit for participants age 60 to 63 in 2025 is $34,750.
These are the maximum contribution limits for both employer-sponsored and individual retirement accounts in 2024 and 2025: ... Thrift Savings Plan. 2024. $23,000. ... limit increases to $23,500 ...
Saving in 401(k)s and IRAs is a smart way to put money aside for retirement. A 401(k) has a pretty high contribution limit compared to other retirement accounts, which is partly why it serves as ...
In 2025, the catch-up contribution limit for 401(k)s is $7,500, unchanged from 2024. So if you're 50 or older by the end of 2025, you can put up to $31,000 into your 401(k). IRA limits for 2025
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. Sixty- to 63-year-olds get a super contribution for the first time. IRS raises 401(k) contribution limits, adds ...
An employer may set its maximum contribution rate at 10% to 15%. ... Suppose the 2024 contribution limit remains at $7,500 for 2025; you can “catch up” up to $11,250 in 2025. ... and changes ...