Regulatory Updates
Regulatory Updates provide quick access to employee benefit regulations, rulings and other guidance released by governmental agencies in the U.S. and Canada.
New updates to this page may be included in Today’s Headlines which is emailed to International Foundation members each business day. Inquiries regarding these updates should be directed to the Benefits Knowledge Center at the International Foundation at (888) 334-3327, option 5 or [email protected].
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IRS Releases 401(k) and Pension Plan Limitations for 2025
Nov 4, 2024, 06:00
by
Amanda Wilke
The Internal Revenue Service (IRS) has announced cost-of-living adjustments affecting dollar limitations for 401(k), pension plans and other retirement-related items for tax year 2025 in Notice 2024-80.
The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $23,500 in 2025, up from $23,000 in 2024.
The limitation on the annual benefit under a defined benefit plan under section 415(b)(1)(A) is increased from $275,000 to $280,000.
The limitation for defined contribution plans under section 415(c)(1)(A) is increased in 2025 from $69,000 to $70,000.