SECURE 2.0 Catch Up Limits for participants ages 60-63

Summary:

According to IRS Legislation, the provision will go into effect on January 1, 2025. For participants who are ages 60, 61, 62, and 63, they will have a larger catch up limit than other participants who are catch up eligible. The limit is the greater of $10,000 or 150% of the previous year’s catch up limit. So, for 2025, since the catch up limit in 2024 is $7,500, the higher limit for these participants will be $11,250. This will apply to anyone who is or going to be 60, 61, 62, or 63 at any time in 2025. Every following