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The Independent UK
The Independent UK
National
Fatima Hussein

IRS announces pension and retirement plan contribution adjustments for 2025

IRS
IRS Inflation Adjustment - (Copyright 2021 The Associated Press. All rights reserved.)

The IRS on Friday announced an increase to the amount individuals can contribute to their 401(k) plans in 2025 — to $23,500, up from $23,000 in 2024.

The Internal Revenue Service detailed the increases in its annual cost-of-living adjustments for pension plans and other retirement accounts.

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