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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 ...
One of the most valuable perks of a 401(k) is its high contribution limits. The additional $7,500 that workers 50 and older are eligible to contribute to a 401(k) is known as a catch-up contribution.
401(k) super catch-up contributions: What you should know As part of SECURE Act 2.0 , passed in late 2022, individuals age 60, 61, 62 or 63 are now allowed to make “super catch-up contributions ...
The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday.
For plans like a 401(k), 403(b), Thrift Savings Plan, some 457 plans and Simple IRAs and 401(k) plans, the total contribution limit for participants age 60 to 63 in 2025 is $34,750.
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. The IRS updated the 401(k) contribution limits for ...