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The IRS places contribution limits on 401(k)s: For 2024, the contribution limit is $23,000, with an additional $7,500 allowed in catch-up contributions for workers who are age 50 or older.
401(k) contribution limits in 2024 and 2025 For 2025, the 401(k) limit for employee salary deferrals is $23,500, which is above the 2024 401(k) limit of $23,000. Employer matches don’t count ...
For example, if your employer offers to match 5% of your salary in 401(k) contributions, confirm that you are contributing at least 5% of your paycheck to your 401(k). Check Your Resources.
One of the most valuable perks of a 401(k) is its high contribution limits. The additional $7,500 that workers 50 and older are eligible to contribute to a 401(k) is known as a catch-up contribution.
The 401(k) program has been a tremendous help to workers planning for their retirement. Over 71 million workers have access to a 401(k), or 56.6% of all workers , who have put $8 trillion into the ...
The Saver's Credit, also known as the Retirement Savings Contributions Credit, for low- and moderate-income workers is $39,500 for individuals, $79,000 for married couples filing jointly and ...