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Note that 457 plans have unique catch-up rules, so confirm the total with your plan administrator. Also, if you have a SIMPLE retirement plan, the contribution limits are different: $16,000 for ...
For 2025, you’ll be able to increase your annual contribution to your 401(k), 403(b), governmental 457 plans, and the federal government's Thrift Savings Plan to $23,500, up from $23,000.
The limit on annual contributions to an IRA remains $7,000. The IRA catch‑up contribution limit for individuals aged 50 also stayed at $1,000 for 2025, after a cost-of-living adjustment, the IRS ...
IRS code section 457(f) allows for nongovernmental, nonprofit organizations to set up a plan that can be tax deferred and exceed the normal defined contribution employee deferral limit. Ineligible 457 plans are made available because nonprofit organizations are not allowed to have another kind of nonqualified deferred-compensation plan.
For example, it increased from $6,500 in 2023 to $7,000 in 2024. However, the catch-up limit has been $1,000 for years and has not been linked to inflation -- until now. The SECURE Act 2.0 ...
The new IRS rules for 2025 IRA contribution limits could be announced any day. Based on 2024 rules, it's possible that many retirement savers could be allowed to put up to $7,000 (or more) into ...