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401(k) plan limits. 2025. 2024. Maximum elective deferral for most employees age 50 and older (including catch-up contributions) $31,000. $30,500. Maximum elective deferral for employees 60, 61 ...
Simple IRAs and Simple 401(k) plans also had a slight contribution increase from $16,000 in 2024 to $16,500 in 2025, Coley shared. However, the catch-up provision for participants over 50 did not ...
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 ...
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.
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.
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 ...
Some retirement savers can make larger 401(k) contributions in 2025 thanks to an obscure change made in the SECURE 2.0 act. ... 500 from the 2024 limit — to their 401(k) plans in 2025, according ...
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.