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The contribution limit on individual retirement accounts (IRAs) will stick at $7,000, and the catch‑up contribution limit for individuals 50 and over stays at $1,000 for 2025.
401(k) plan limits. 2024. 2025. Change. Maximum salary deferral for workers. $23,000. $23,500 +$500. Catch-up contributions for workers age 50 and older. $7,500
That's a $500 bump from the $23,000 elective deferral limit for 401(k) plan employee contributions in 2024. ... but an extra $500 invested can pay off over the long term. ... For employees aged 50 ...
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.
If you’re 50 or older, you can add up to $7,500 in catch-up contributions in 2024 and 2025 for a total of $30,500 this year and $31,000 next year. ... 401(k) limit increases to $23,500 for 2025 ...
Take a look at the standard contribution limits over the past several years to get a better idea of how the numbers have moved over time: Year 401(k) contribution limit (Under age 50)