The 401(k) super catch-up provision is the government's way of helping those on the cusp of retirement sock away more funds in their 401(k) plans. It's hardly a secret that many Americans are woefully underprepared for retirement. The median retirement savings balance among 55- to 64-year-olds was just $185,000 as of 2022, the last year the Federal Reserve collected this data.
Recent stock market gains have likely bolstered total retirement savings since 2022. Indeed, the average 401(k) balance for savers in their 60s has steadily increased to $266,900 by the end of 2025, but it remains alarmingly low given that people in this age group are near retirement.
