Reported 4 days 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