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The 2024 401(k) catch-up contribution limit is $7,500 for those 50 and older. Starting in 2025, if you’re 60 to 63, you will get a higher contribution limit than people in their 50s.
In 2024, the maximum amount individuals could contribute increased to $23,000 from $22,500 in 2023. ... availability of Roth contributions within 401(k) plans. In 2025, all catch-up contributions ...
So whether your 401(k) balance currently sits at $50,000 or $2 million, you can make what catch-up contribution you're eligible for based on your age in 2025 -- either $7,500 or $11,250.
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. This “super ...
There's a similar catch-up provision for 401(k)s for those in the 60-63 age group, which increases the catch-up contribution to $10,000 or 150% of the standard catch-up contribution, whichever is ...
Average 401(k) balance by age. For tax year 2024, you can save as much as $23,000 in your 401(k), with that amount increasing to $23,500 for tax year 2025. ... $7,500 in catch-up contributions in ...
Under a change made in the SECURE 2.0 Act, 401(k) catch-up contributions for people ages 60 to 63 will increase in 2025 to $10,000 or 150% of the regular catch-up amount – whichever is greater.
On top of these amounts, workers aged 50 and older can add up to $7,500 more annually as a catch-up contribution in 2025, the same amount as 2024. Starting in 2025, the catch-up contribution for ...