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Congress Aims to Raise Limits for Catch-Up Contributions
USA TODAY 
Aug. 9, 2021 "[A] House bill [would] allow savers aged 62, 63, or 64 to make catch-up contributions totaling up to $10,000 for a 401(k), up from $6,500.... [T]hat bill would also eliminate the pre-tax aspect of those contributions, effectively bumping them into the Roth category.... The Senate bill ... would allow for $10,000 catch-ups to 401(k) plans for savers 60 and older. Those contributions would also be eligible to go in tax-free so savers can reap an immediate tax break." MORE >> |
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