401 Limit 2025. Those who are age 60, 61, 62, or 63 will soon be able to set aside more money in a 401 (k). The limit on contributions will go from $22,500 to $23,000 next year, the company predicts, and says the same will be true for 403 (b) and 457 plans, the 401 (k).
Jun 25, 2024 11:13 am ist. More than this year, if one firm’s forecast is any.
Additionally, The Total Contribution Limit.
For 2024, that limit is $23,000 for all but simple 401(k) plans.
The Increases Go Into Effect In January 2025.
You have no exemption left.
401 Limit 2025 Images References :
That's An Increase From The 2023 Limit Of $330,000.
The legislation requires businesses adopting new 401 (k) and 403 (b) plans to automatically enroll eligible.
See The Chart Below For Further Details For The New 2024 Limits, As.
The 401 (k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions.