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As part of SECURE Act 2.0, passed in late 2022, individuals age 60, 61, 62 or 63 are now allowed to make “super catch-up contributions” to their 401(k) and other retirement plans. These ...
Starting in 2025, employees aged 60 to 63 years old who participate in one of those work plans have a higher catch-up contribution limit. That cap is $11,250, instead of $7,500.
Starting January 1, 2025, individuals ages 60 to 63 can make catch-up contributions up to $10,000 a year to a workplace plan. The catch-up amount for people ages 50 and older is $7,500, but do go ...
People who are between 60 and 63 have a higher catch-up limit of $11,250 for a total of $34,750 in tax year 2025. ... eight times by 60, and ten times your salary by age 67. For example, if you ...
For 2025, 401(k) participants ages 60-63 can put away an additional $11,250 in catch-up contributions, greater than the $7,500 limit for those in their 50s. However, "once you reach age 64, that ...
That $11,250 isn't in addition to the normal $7,500 catch-up -- it's instead of it. But still, that gives savers aged 60 to 63 the option to put up to $34,740 into a Roth 401(k) this year. 2.
The law ushered in a new rule that provides extra catch-up contributions for employees aged 60 to 63. Those older workers can make additional 401(k) contributions of $11,250 in 2025 instead for a ...
As for making the best possible use of your time, you should also know that the IRS offers anyone over the age of 50 so-called "catch-up contributions" to individual retirement accounts, including ...