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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 ...
Most people probably won't hit this limit — an estimated 14% of participants contributed the maximum to their 401(k) in 2023, ... additional 401(k) contributions of $11,250 in 2025 instead for a ...
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 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.
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 be massively useful for many of those workers.
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. Sixty- to 63-year-olds get a super contribution for the first time. IRS raises 401(k) contribution limits, adds ...
For example, an employee whose annual gross pay is $50,000 contributes $3,000 (6% of gross pay) would receive a $3,000 employer contribution. If the employee contributed more than $3,000 the employee would not receive additional employer contributions.
401(k) plan limits. 2024. 2025. Change. Maximum salary deferral for workers. $23,000. $23,500 +$500. Catch-up contributions for workers age 50 and older. $7,500