Higher catch-up limits for employees at age 60, 61, 62, and 63. Beginning at age 50, participants can contribute an extra $7,500 (indexed annually) into a workplace 401(k) or 403(b) retirement plan, called a “catch-up” contribution. The new provision permits an...
Contribution
Save More for Retirement in 2022
On November 4, 2021, the IRS announced the Cost of Living Adjustments affecting the dollar limitations for retirement plans for 2022. In October, the Social Security Administration announced a benefit increase of 5.9%, the largest increase in nearly 40 years....