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Saving for retirement will get a modest boost in 2025 thanks to higher contribution limits and the phase-in of provisions stemming from the Secure 2.0 Act, which became law at the end of 2023.
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.
Suppose the 2024 contribution limit remains at $7,500 for 2025; you can “catch up” up to $11,250 in 2025. The increased limit will be adjusted for inflation after 2025, ensuring it keeps pace ...
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.
In 2025, the catch-up contribution limit for 401(k)s is $7,500, unchanged from 2024. So if you're 50 or older by the end of 2025, you can put up to $31,000 into your 401(k). IRA limits for 2025
The IRS has yet to announce 2025 retirement account contribution limits. Based on recent inflation figures, we can get a good idea of what to expect, but we haven't officially learned the new ...
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. IRS raises 401(k) contribution limits, adds ...
Year. 401(k) contribution limit (Under age 50) 2025. $23,500. 2024. ... there's a notable change in 2025 that could benefit some retirement savers. Under SECURE 2.0, employees aged 60, 61, 62, and ...