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Here’s how much 401(k) contribution limits are likely to rise next year

Por: MarketWatch Business September 03, 2023

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And, Mercer says, there will be no hike in the additional $7,500 in catch-up contributions allowed for those over 50 — meaning that for workers in their 50s and 60s, the total tax-deferred contribution cap will rise from $30,000 to $30,500, or 1.7%. This estimate comes at a time when the official inflation figure is 3.2%, with the Federal Reserve struggling to bring it back down to a target rate of 2%. There is an increase planned for the... + full article



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