The IRS has issued 2025 retirement plan numbers. In 2025, individuals with IRAs can contribute up to $7,000 (the same as in 2024). The IRA catch-up contribution for those age 50 or over will remain at $1,000. For those with 401(k) plans, the 2025 contribution limit will increase to $23,500, up from $23,000 in 2024. The same is true for 403(b) plans and 457 plans. The catch-up contribution limit for employees 50 or over participating in these plans will be $7,500 for 2025 (same as 2024). So, the total allowable contribution for 2025 for those 50 or over will be $31,000. In 2025, a higher catch-up limit of $11,250 will apply for employees age 60 to 63 participating in these plans.
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