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This gives savers who are both nearing retirement and earning over $145,000 two additional years to make catch-up contributions on a pre-tax basis. ... any catch-up contributions made to a 401(k ...
The 401(k) contribution limit for 2024 is $23,000, and the catch-up contribution allows workers to add an additional $7,500 – for a grand total of $30,500 this year.
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. ... In plans offering catch-up contributions ...
Since 57.2% of employees nearing retirement contribute to a 401(k), according to the same EBI report, it could mean not as many take advantage of the catch-up contribution anyway.
The super catch-up contribution amount is $11,250 for 2025, compared to the regular catch-up contribution amount of $7,500, which is available to those age 50 and older.
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 ...