2025 IRA, Retirement Plan Contribution Limits And Social Security News
Posted on 05. Feb, 2025 by Brian Parker in IRA Contributions, Tax News
Elective Contributions to IRAs, 401(k)s and Other Qualified Plans On November 1, 2024, the IRS announced new limits for IRA, pension and other contributions for 2025. For the most part, the limits increased from 2024 because there was a rise in the cost-of-living index. The maximum limit for contributions to IRAs remains the same at $7,000 for 2025. If you are age 50 or older, you can contribute a maximum of $8,000 to an IRA for 2025, the same as for 2024.…Read More
