Search results
Results from the WOW.Com Content Network
Image source: Getty Images. The new super catch-up contribution. The SECURE 2.0 Act modifies catch-up contributions for participants in 403(b), 457(b), and 401(k) plans.Catch-up contributions ...
Three significant 401(k) plan changes coming in 2025 are worth paying attention to, regardless of when you plan to retire, whether you work full-time or part-time, or whether you even have a 401(k)...
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.
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.
In short, the employees who most need a retirement plan may be the ones who can least afford to participate in a 401(k). A big incentive for participating in a 401(k) is getting the matching funds offered by most employers. To get all these funds, employees must contribute a certain amount (often twice what the employer contributes).
A Roth retirement account allows employees to contribute after taxes, with the benefits being withdrawn tax-free in retirement. Usually, employers will specify a vesting period, which is the minimum amount of time an employee must work to claim the employer-matched contributions.
If you're in that category, it means you can put up to $34,750 into your 401(k) in the new year. You might assume that maxing out a 401(k) is one of the best things you can do for your retirement.
Get live expert help with your AOL needs—from email and passwords, technical questions, mobile email and more. AOL Mail for Verizon Customers AOL Mail welcomes Verizon customers to our safe and delightful email experience!