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Contribution limits for 401(k) and other workplace retirement plans rise for 2025. ... (k) contribution limits, adds super catch-up for 60-63 year olds in 2025. ... In 2023, only 14% of employees ...
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.
The challenges with catch-up contributions. Considering the EPI research shows those between 55 and 64 tend to have around $10,000 set aside in retirement funds, super catch-up contributions could ...
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 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...
According to the agency’s news release, the maximum contribution that an employee can make to a 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan (TSP) is ...
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 ...
Contributing to your 401(k) is a great way to prepare for retirement, allowing for tax-deferred growth and, in some cases, employer matching contributions. If you really want to boost your savings ...