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Image source: Getty Images. Adults aged 60 to 63 can now make a larger catch-up contribution. The additional $7,500 that workers 50 and older are eligible to contribute to a 401(k) is known as a ...
Contribution limits for 401(k) and other workplace retirement plans rise for 2025. ... contribution limits, adds super catch-up for 60-63 year olds in 2025. Medora Lee, USA TODAY ... Over 100,000 ...
For 2025, the annual employee contribution limit for 401(k) plans is set to increase from $23,000 in 2024 to a record high of $23,500. That's the standard contribution limit for employees under ...
So for many savers aged 50 and over, the maximum 401(k) contribution in the new year will be $31,000. But some older workers will be able to contribute even more thanks to a new super catch-up ...
The law ushered in a new rule that provides extra catch-up contributions for employees aged 60 to 63. Those older workers can make additional 401(k) contributions of $11,250 in 2025 instead for a ...
For 2024 and 2025, that amount is an additional $7,500 within the calendar year. Starting in 2025 — thanks to the passing of SECURE 2.0 Act back in 2022— those aged 60 to 63 are allowed a ...
As the IRS noted, employees younger than 50 have an annual contribution limit of $23,500 in 2025, up from $23,000 last year. With the super funding option, employees 60-63 can now contribute up to ...
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.