Enjoy complimentary access to top ideas and insights — selected by our editors.
The Internal Revenue Service introduced changes for 401(k) and IRA plans for 2025.
These changes include an increase in annual contribution limits for 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan to $23,500, up from $23,000.
Some aspects of these plans will remain the same, such as the catch-up contribution limit that generally applies to employees aged 50 and over who participate in most 401(k), 403(b), governmental 457 plans, and the Thrift plan, which will stay at $7,500.
Read more about the notable 401(k) and IRA plan changes for 2025.
Source:
Credit: Source link
