Posts Tagged ‘401k contribution’
2026 Key Financial Changes
The annual exclusion for gifts remained at $19,000 for 2026. The limitation on deferrals for 401(k), 403(b), and 457 plans is increased to $24,500 for 2026, up from $23,500 in 2025. The catch-up for those over age 50 was increased to $8,000 from $7,500, so if you are maxing out your plan and over age…
Read MoreNew Retirement Rule Coming in 2026 for High-Income Earners: Roth Catch-Up Contribution
Starting January 1, 2026, a change under the SECURE 2.0 Act will affect how some employees age 50 and older make catch-up contributions to their workplace retirement plans. What’s Changing? If you turn 50 or older in 2026 and your 2025 FICA wages (Box 3 of your W-2) with your current employer were over $150,000*,…
Read More2023 Key Financial Changes
Social Security recipients are getting an 8.7% increase for their 2023 benefits The Medicare Part B premium is decreasing from $170.10 to $164.90 per month The annual exclusion for gifts is increasing to $17,000 from $16,000 per year per individual The limitation on deferrals for 401(k), 403(b), and most 457 plans is increased to $22,500…
Read More