CNN —
Come next year, you will be allowed to save a little more in your 401(k) on a tax-deferred basis than you can this year, unless you’re in your early 60s, in which case for the first time you’ll be allowed to save a lot more.
The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday.
The IRS did not, however, increase the limit on catch-up contributions — that’s the extra amount of money people 50 and
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