I have updated information from the IRS about 2025 investor contribution limits for 401(k) plans, individual retirement accounts and other retirement accounts. The employee contribution limit for 401(k) plans is increasing to $23,500 in 2025, up from $23,000 in 2024, and Catch up contributions for saver's age 50 and older will remain unchanged at $7,500. The new amounts also apply to 403(b) plans, most 457 plans and Thrift Savings Plans. The limit on annual contributions to an IRA remains at $7,000 in 2025. Catch-up contributions will remain unchanged at $1,000. Here are the phase out ranges for 2025: For single taxpayers covered by a workplace retirement plan, the phase-out range is increased to between $79,000 and $89,000, up from between $77,000 and $87,000. For married couples filing jointly, if the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is increased to between $126,000 and $146,000, up from between $123,000 and $143,000. Questions call 320 679 5183 or go to yoursafemoneyshow.com.
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