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The IRS rolled out major changes to 401(k) contribution limits last week, including catch-up contributions for workers aged 50 and older. In an Oct. 21 announcement, the tax agency said the amount...
The IRS did not increase the contribution limits for individual retirement accounts, known as IRAs. The annual limit next year will remain $7,000 and the catch-up contribution amount for those 50 ...
Additionally, maximum Roth or traditional individual retirement account (IRA) contributions are now set at $6,500 (up from $6,000). The IRA catch-up contribution limit (a contribution that allows ...
For those 50 and over, they can save an additional $7,500, up from last year's $6,500 catch-up contribution limit. In total, workers who are 50 and older can contribute up to $30,000 starting in 2023.
The IRS released the maximum annual contributions to 401(k) and similar retirement accounts along with IRAs. Retirement contribution limits for 2023 jump by record amount [Video] Skip to main content
The 401(k) contribution limit in 2023 is $22,500, with an additional $7,500 catch-up provision for those 50 and older, for a total of $30,000. ... consider maxing out your 401(k) at this time and ...