
3 minutes read
Navigating the Secure 2.0 Act's Higher Catch-Up Limits
Authored by: Dale Shaw, CFP®, RICP®
Beginning in 2025, the annual contribution limits to 401(k) plans, 403(b) plans, governmental 457 plans, and the federal government’s Thrift Savings Plan will increase to $23,500. The age 50+ catch up contribution will be $7,500. Also, the SECURE 2.0 Act introduces a higher catch up contribution for those between the ages of 60-63 bringing their catch up contribution…