As we approach the new year, you may be wondering, “How much will the IRS let me contribute to my retirement account next year?” We are happy to provide an answer!
In 2025, the IRS annual contribution limit for the 403(b) is $23,500.
Catch-Up Contributions for Age 50+:
For those aged 50 or older, the 403(b) catch-up contribution limit remains $7,500, allowing a total possible contribution of $31,000.
New! Enhanced Contributions for Ages 60 to 63:
Individuals turning 60 to 63 in 2025 are eligible for higher catch-up contributions to their 403(b) plans. The new catch-up amount is $11,250, bringing the total possible contribution to $34,750. For those turning 64 or older, the catch-up contribution reverts to the age 50+ amount of $7,500.
How can I make these contributions?
All team members are eligible to make pre-tax contributions, Roth (after-tax) contributions, or both.
To make saving for retirement even easier, consider using the Contribution Maximizer tool, which calculates your ideal contribution for each pay period.
Need a little more in-depth planning for the year ahead?
No problem! Fidelity Workplace Financial Consultants are available for confidential consultations via Zoom or over the phone. Visit Fidelity.com/schedule to book your appointment today.
For additional questions about contribution limits or your plan in general, call Fidelity at 1.800.343.0860. Visit www.fidelity.com/atwork, or use the Fidelity Net Benefits mobile app.