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The catch-up contribution limit that generally applies for employees aged 50 and over who participate in most 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan remains $7,500 for 2025. Therefore, participants in most 401(k), 403(b), governmental 457 plans and the federal government’s Thrift Savings ...

New SECURE 2.0 Super 401(k) Catch-Up Contribution for Ages 60-63. ... So, the IRS has announced that for 2025, the enhanced catch-up contribution limit for those 60-63 is $11,250.

401(k) contribution limits for 2024. The 401(k) contribution limit for 2024 is $23,000 for employee salary deferrals, and $69,000 for the combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee deferral limit to $30,500.

See the discussion of 403(b) contribution limits for details. IRA catch-up amounts. You can make catch-up contributions to your traditional or Roth IRA up to $1,000 in 2015 - 2023. Catch-up contributions to an IRA are due by the due date of your tax return (not including extensions). Related. Retirement topics: Contributions; 401(k) plan catch ...

The catch-up contribution limit for 401(k) participants is $7,500 for 2024 and 2025 on top of the annual $23,500 contribution limit. The IRS allows catch-up contributions for people who also ...

SECURE 2.0 requires higher earners to put their catch-up retirement savings in a Roth 401(k). Skip to content. Find a Branch; ... For 2025, the catch-up contribution is an extra $7,500 on top of the $23,500 limit for everyone else, for a total limit of $31,000. And for those age 60 to 63, that catch-up contribution jumps from $7,500 to $11,250. ...

Defined Contribution Plans 2025 2024 Change; Maximum employee elective deferral (age 49 or younger) (1) $23,500: $23,000 +$500: Employee catch-up contribution (age 50 or older by year-end) (2)

For example, even if you turn 50 on December 31, 2024, you can take advantage of the catch-up contribution limit during 2024. SIMPLE 401(k) Limits. The above 401(k) contribution limits refer to ...

The 401(k) Catch-Up Contribution Limit for 2025. Workers can defer paying income tax on as much as $23,500 on contributions to a 401(k), 403(b) and the federal government's Thrift Savings Plan in ...

The IRS allows plan participants 50 and over to make annual catch-up contributions to 401(k) plans for 2024 and 2025 of $7,500. Starting in 2025, employees aged 60, 61, 62, and 63 are allowed a ...

For those in their early 60s, the catch-up contribution is $11,250 inside 401(k), 403(b), and 457(b) plans. For small business owners or sole proprietors with a SIMPLE IRA (individual retirement account), the catch-up contribution limit for ages 60 to 63 has increased from $3,500 to $5,250.

The Act also introduces a new catchup limit for individuals age 60-63 starting in 2025. If your plan allows, you may be able to contribute up to 150% of the catch-up limit. Participants in retirement accounts designed for self-employed individuals and small businesses can also take advantage of catch-up contributions:

Significant changes to 401(k) plans are coming in 2026, and if you make age 50+ catch-up contributions, you may need to be prepared. ... Starting this year, employees who are ages 60-63 can contribute an extra 50% more than the standard catch-up limit, bringing their total catch-up contribution up to $11,250. However, once they turn 64, their ...

Increased Catch-Up Contributions for Ages 60-63. Section 109 of SECURE 2.0 increases the catch-up limit for individuals aged 60-63 to the greater of $10,000 or 150% of the regular catch-up limit ($11,250 for 2025). Key details include: Age Range: The enhanced limit applies from the year an individual turns 60 until the year they turn 64.

The annual contribution limit for the 401(k) plans, 403(b) plans, governmental 457 plans, and Thrift Saving Plans has been raised to $23,500 in 2025 from $23,000 in 2024; the catch-up contribution limit for both 2024 and 2025 is $7,500 for employees 50 years of age and older.

By contributing an additional $7,500 (the 401(k) catch-up contribution limit in 2025), you could grow your retirement savings by quite a bit in a few short years. If you began making catch-up contributions at age 50, by age 65, you could have saved an additional $198,101.43 for retirement by maxing out your catch-up contributions. ...

Standard contribution limit: If you are contributing to a 401(k), you can now set aside up to $23,500 in 2025, up from $23,000 in 2024. Catch-up contributions for ages 50 and older: Once you turn 50, you can contribute even more. The catch-up contribution limit stays at $7,500, bringing your total possible contribution to $31,000 in 2025.

The catch-up contribution limit for 401(k) participants aged 50 and over remains at $7,500. Additionally, updates to the SECURE Act 2.0 allow for a higher catch-up contribution limit for participants aged 60, 61, 62 and 63. This limit is $11,250 in 2025.

For 2025, the catch-up limit for this group is $11,250 instead of $7,500. In future years, the limit will be adjusted for cost of living. If an employee is currently age 59 but will be age 60 by the end of the year, the super catch-up rule would apply to that employee. Conversely, if an employee is currently age 63 but will be age 64 by the end ...