Retirement plan contributions - Catch-Up
Your retirement planner can help maximize your contributions for retirement savings. If you are 50 or older before the end of the tax year, you may be able to make additional contributions to accounts as follows:
- Roth and Traditional IRA accounts of up to $1,000 per year.
- 401(k) and similar accounts of up to $5,500 per year
The above information is not intended to be a substitute for specific or individualized tax, legal or investment planning advice, but is only a guide to help have a meaningful discussion with your tax advisor, financial planner or retirement planner.
