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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...
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 ...
The IRS released the maximum annual contributions to 401(k) ... workers who are 50 and older can contribute up to $30,000, starting in 2023. ... The catch-up contribution limit for workers 50 and ...
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. ... In 2023, only 14% of employees maxed out their work plans, ... In plans offering catch-up contributions, 15% ...
In 2024, the 401(k) contribution limit is $23,000, which is up from $22,500 in 2023. Individuals aged 50 and over can contribute an additional $7,500 in catch-up contributions to their 401(k ...
The IRS released the maximum annual contributions to 401(k) and similar retirement accounts along with IRAs. Retirement contribution limits for 2023 jump by record amount [Video] Skip to main content
Catch-up contributions can also be made to Roth 401(k)s or split between traditional and Roth 401(k) accounts. While your tax break is not immediate with a Roth 401(k), you are eligible to make ...
Continue reading → The post 2023 Retirement Contribution Limits appeared first on SmartAsset Blog. Funneling money into a tax-advantaged account, such as an IRA or a 401(k) is a must if you're ...