You can put even more of your pre-tax dollars toward saving for retirement in 2025.
The Internal Revenue Service announced the new 401(k) contribution limits for 2025 on Friday.
Individuals can contribute up to $23,500 to employer-sponsored retirement accounts including 401(k)s, 403(b)s, most 457 plans and federal Thrift Savings Plans.
People in that age range can contribute an additional $11,250 in 2025 to hit a maximum contribution of $34,750.
If you don't have access to a 401(k) or want an additional retirement account, savers can contribute up to $7,000 to an individual retirement account in 2025, plus an additional $1,000 for those ages 50 and older, the same limits as in 2024.
Persons:
Roth
Organizations:
Internal Revenue Service, Savings, People