Reported 10 months ago
In 2025, retirement savings will see modest changes including increased contribution limits for 401(k) and IRA accounts due to the Secure 2.0 Act. Workers can contribute up to $23,500 to retirement plans and catch-up contributions increase for those aged 60-63. Additionally, important adjustments in Social Security benefits and Medicare premiums will occur, with a small COLA increase and higher Part B premiums. Automatic enrollment in retirement plans will be mandatory for new plans, and long-term, part-time employees will gain eligibility for 401(k) plans.
Source: YAHOO