Effective on January 1, 2025, your Employer Retirement Contributions Plan Limits are changing for the better. You can now put more money into your 401(k), 403(b), 457 Plan (known as DCP for most state employees), and TSP.
Base Limit/those under 50 - $ 23,500 annually ($1,958 monthly)
Catch up/age 50 plus - allowed an additional $7,500 for a total of $31,500 annually ($2,593 monthly)
NEW: Super Catch-up/Ages 60-63 - allowed an additional $11,500 for a total of $35,000 annually ($2,916
monthly)
NEW: Annual Contributions to Traditional or Roth IRA is now $8,000 for age 50 plus. Remains at $7,000 under
50.
You’re investing for future retirement spending and building options for your future self.