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IRS Announces 401(K) Contribution Increase For 2025

IRS Social Security

A sign is displayed outside the Internal Revenue Service building May 4, 2021, in Washington. On Friday, Aug. 19, 2022. (AP Photo/Patrick Semansky, File)

The Internal Revenue Service (IRS) has announced an increase in the contribution limits for various retirement accounts in 2025. Individuals will now be able to contribute up to $23,500 to their 401(k) plans, up from $23,000 in 2024. This adjustment is part of the annual cost-of-living adjustments for pension plans and other retirement accounts.

Workers participating in 403(b) plans and the federal government’s Thrift Savings Plan will also see their contribution limits raised to $23,500 in 2025, up from $23,000 in the previous year. However, the annual contribution limit for Individual Retirement Accounts (IRAs) will remain unchanged at $7,000 for 2025, with the IRA catch-up contribution limit for individuals aged 50 and over staying at $1,000.

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