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The IRS updated the 401(k) contribution limits for 2025 and now allows people between 60 and 63 to save an additional $15,000 over four years. 401(k) Catch-Up Limits Are Going Up. Here's What That ...
The catch-up contribution limit, for those 50 or older, is holding steady at $7,500. There’s an extra layer of icing for workers aged 60 to 63, thanks to the Secure 2.0 law — a higher catch-up ...
The catch-up contribution limit for those over 50 remains at $7,500 for 2025, giving you a total limit of $31,000 next year. The limits apply to pre-tax, traditional retirement plans and after-tax ...
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 ...
However, the notable change is that people aged 60 to 63 can now contribute an additional $11,250, bringing their contribution limit to $34,750. A $3,750 increase in catch-up contributions can ...
Some retirment savers can make larger 401(k) contributions in 2025 thanks to an obscure change made in the SECURE 2.0 act.
However, there's a notable change in 2025 that could benefit some retirement savers. Under SECURE 2.0, employees aged 60, 61, 62, and 63 will see an even higher catch-up limit. For 2025, this ...
2024 401(k) Catch-up Limit: $7,500 Combining the standard contribution limit and the catch-up limit, you can save a total of $30,500. This is a significant percentage of the average worker’s salary.