Key Points
- The cost-of-living adjustment for Social Security benefits rises by 2.5% for 2025.
- Employees aged 60-63 can make a higher catch-up contribution of $11,250 to their 401(k) plan.
- New 401(k) plans must auto enroll their employees starting in 2025 unless an exception applies.
As we approach the new year it is important to keep up with regulatory changes. In 2025 we will see the typical IRS tax inflation adjustments, changes to Social Security benefits and updated IRA/401k contribution limits.
Notable IRS Tax Adjustments
Will you have enough money to retire stress-free? If you aren’t sure, sign up for a free trial of WealthTrace to find out.