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If you're already investing in a 401(k), or if you want to start, you should be aware that some key IRS changes are going into effect in 2025. 1. Contribution limit changes. The first big change ...
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.
401(k) plan limits. 2025. 2024. Maximum elective deferral for most employees age 50 and older (including catch-up contributions) ... Take this time to review the 401(k) changes, and set your goals ...
Find out how the 401(k) changes coming in 2025 can make putting more money away for retirement easier. 2025 SECURE 2.0 Act 401(k) Plan Changes The following changes also apply to 403(b) plans.
A special rule change laid out in the SECURE 2.0 Act from 2022 will go into effect on Jan. 1. The new rule increases the catch-up contribution limits for 401(k)s. The thing is, it only applies to ...
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.
On Nov. 1, the IRS rolled out some updates to retirement plans, including 401(k)s, that kick in next year. If you have access to a 401(k), now's the time to roll up your sleeves and dive into the ...
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.
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