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The IRS recently announced that contribution limits for 401(k) retirement plans will increase in 2025, allowing workers to save more for their future. Beginning next year, employees can contribute ...
A 401(k) is a tax-advantaged account designed to help you save for retirement. ... the 401(k) contribution limit is $23,000, which is up from $22,500 in 2023. Individuals aged 50 and over can ...
For the 2025 tax year, the IRS is increasing the annual contribution limit for 401(k) plans by $500 from the current limit of $23,000 in 2024 to $23,500 in 2025.
Image source: Getty Images. The standard 401(k) contribution limits for 2025 are going up. Starting in 2025, employees can sock away up to $23,500 in their 401(k)s.That's a $500 bump from the ...
The Saver's Credit provides a tax credit equal to 10%, 20% or 50% of the contributions you make to a 401(k) or other eligible retirement plan. The maximum credit is $1,000 for single tax filers or ...
The IRS did not, however, increase the limit on catch-up contributions — that’s the extra amount of money people 50 and older can contribute annually in tax-advantaged plans like 401(k)s, 403 ...