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The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday.
3. Workplace retirement account contribution limits increase. Most workplace retirement plans—including 401(k)s, 403(b)s, 457s and TSPs—allow employees to contribute up to $23,000 in 2024.
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.
The premiums are flexible, from a minimum amount specified in the policy, to the maximum amount allowed by the contract. The primary difference is that the universal life policy shifts some of the risk for maintaining the death benefit to the policy owner. In a whole life policy, as long as every premium payment is made, the death benefit is ...
If you like to go big and max out your retirement accounts, you'll appreciate the latest news: The IRS is bumping up the standard contribution limit for 401(k) plans to $23,500 in 2025. That's up ...
If you're aiming to sock away the max in your 401(k) for 2025, now's the perfect time to start planning for the higher contribution limits. 401(k) Contribution Limits Are Going Up in 2025 Skip to ...