Q:

Where can you find the current limits for 401(k) catch-up contributions?

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Quick Answer

The Internal Revenue Service publishes limits to 401(k) catch-up contributions on the department's website. Limits vary depending on the exact retirement plan. As of 2015, catch-up contributions are capped at $5,500 for 2014 contributions and $6,000 for 2015 contributions for 401(k) plans other than the SIMPLE 401(k).

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Full Answer

Catch-up contributions are available to individuals 50 and older, states the IRS. As of 2015, limits are $2,500 for 2014 and $3,000 for 2015 contributions to SIMPLE 401(k) plans. While individuals may make catch-up contributions through elective deferrals made by the employer, these deferrals are not treated as catch-up contributions until they exceed $17,500 in 2014 or $18,000 in 2015. Deferred contributions also must pass the Actual Deferral Percentage test.

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