The 401k max for 2025 refers to the maximum annual contribution limit set by the Internal Revenue Service (IRS) for 401(k) retirement savings plans. These plans allow eligible individuals to save and invest a portion of their pre-tax income for retirement. The 401k max limit determines how much money can be contributed to these accounts each year. Understanding… Read More »
401(k) plans are employer-sponsored retirement savings plans that allow employees to save money for retirement on a pre-tax basis. In 2023, the contribution limit for 401(k) plans is $22,500 ($30,000 for those age 50 and older). These limits are adjusted annually for inflation, and the limit for 2025 has not yet been announced. However, it is expected to… Read More »
The maximum 401(k) contribution for 2025 is $22,500, with an additional $7,500 catch-up contribution allowed for individuals age 50 or older. This means that individuals can contribute up to $30,000 to their 401(k) plan in 2025. The catch-up contribution limit is intended to help older workers save more for retirement. Making the maximum 401(k) contribution each year can… Read More »