The “Super Catch-Up” contribution: An opportunity you don’t want to miss
If you’re in your early 60s, retirement may be approaching fast. You’re not alone if you feel compelled to save more during this critical period.
The SECURE 2.0 Act, which was signed into law in late 2022, introduced several new retirement plan provisions. One of these included the “Super Catch-Up” contribution. If you’re eligible, this may be the opportunity to boost your retirement savings and add thousands to your nest egg.
Here’s what you need to know.
New rules make saving easier
If there is one advantage to getting older, it’s the ability to save more to your qualified retirement plans. The annual contribution limit for employees who take part in 401(k) 403(b), governmental 457(b) plans and the federal government’s Thrift Savings Plan increased to $23,500 in 2025, up a whopping $500 from the previous year. Except for non-governmental 457(b) plans, the IRS allows those age 50 or older to make catch up contributions as well. Starting in 2025, workers that turn 60, 61, 62 or 63 by calendar year end can make super catch-up contributions of $11,250. For everyone else over age 50, it’s $7,500.
