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The 401 (k) contribution limit increased from $23,000 in 2024 to $23,500 in 2025. The catch-up contribution limit remained at $7,500 for 2024 and 2025. As of 2025, individuals ages 60 to 63 will be able to make even higher catch-up contributions in employer plans, equal to 150% of the catch-up contribution limit for individuals age 50 and older.

Specifically, participants in this age range can contribute an extra $11,250 to their 401(k) in 2025. This enhanced catch-up contribution is designed to support better financial preparedness for ...

Our Employee Benefits & Executive Compensation Group discusses what plan sponsors and fiduciaries need to know about the Internal Revenue

While the official IRS announcement will come later this year, the contribution limit for retirement accounts will likely increase from $23,500 to $24,500 in 2026, according to a new Milliman report.

Catch-up contributions are designed to help people save extra money in tax-advantaged retirement accounts once they hit age 50. For many savers who are behind on their retirement savings goals, catch-up contributions represent a not-to-be-missed second chance at securing a more comfortable retirement.

There are limits as to how much you can contribute and for income thresholds for individual retirement accounts. For 2024 and 2025, you can contribute $7,000.

If we only had Social Security to rely upon, we would be in a lot of trouble. It’s a broken system built on flawed logic and has been rightly described as a Ponzi scheme. That’s where you need to bring in more investors so you can use their contributions to pay earlier participants.