2025 Ira Contribution Limits Over 60. If you’re 60, 61, 62, or 63 in 2025, you may be able to leverage this provision to increase your savings. The internal revenue service (irs) has announced the retirement plan contribution limits for 2025, bringing several key changes for 401(k) plan sponsors.
In 2025, the 401 (k) contribution limit for participants is increasing to $23,500, up from $23,000 in 2024. The irs determines the maximum contribution for each type of ira annually, and they recently announced the updated limits for tax year 2025.
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