Starting january 1, 2025, individual's turning 60 through 63 years old in 2025 will be able to make catch-up contributions up to $10,000 or 150% ($11,250) of the regular age 50 catch-up amount. In 2025, you can contribute up to $23,500 to a 457 (b) plan or up to your includible compensation (typically, your taxable wages plus benefits for the year), if that's less than the annual limit. Announcing a new contribution limit for employees ages 60-63! Beginning january 1, 2025, a new irs limit will be implemented for employees turning 60, 61, 62 or 63 in calendar year 2025. The contribution limit for employees who participate in a 457 (b) plan, 403 (b) plan, or the federal government's thrift savings plan is $23,500 in 2025 (up from $23,000 in 2024).
The catch-up.
