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This month, the IRS announced 2025 inflation-adjusted limits for retirement accounts, and the 401(k) limits are higher than ever. ... 61, 62, and 63 will see an even higher catch-up limit. For ...
In 2025, 401(k) limits are going up. The maximum allowable contribution for workers under 50 is rising by $500 to $23,500. And those 50 and over will be able to contribute an extra $7,500 for a ...
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.
For 2025, the 401(k) limit for employee salary deferrals is $23,500, which is above the 2024 401(k) limit of $23,000. Employer matches don’t count toward this limit and can be quite generous.
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 early November, the Internal Revenue Service rolled out its new updated limits for retirement savers in 2025. To start, individuals can contribute up to $23,500 — an extra $500 from the 2024 ...
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)...
Beginning in 2025, those who will be 60 to 63 by the end of the year are eligible to make an even larger catch-up contribution, bringing their maximum contribution to $34,750.