PSA Reminder for 401K catch-up contributions 2025 age 60-63

$10,000 annually
Starting January 1, 2025, individuals ages 60 through 63 years old will be able to make catch-up contributions up to $10,000 annually to a workplace plan, and that amount will be indexed to inflation. (The catch-up amount for people age 50 and older in 2023 is currently $7,500.)

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About to turn 50 this yr and will add the catch up amount to my contributions. But I hope to god that I won't be working 10yrs from now to have to do this when I turn 60.

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Are there any rules to the catch up period? Any requirements that need to be met? Or is it open to simply add extra at the near retirement age?

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None yet, but the Roth catch-up provision may be an issue in 2026. For 2025 it will be the greater of $10,000 or 150% of the 2024 catch-up, which is currently $8,000, hence the $12,000 figure in the OP.

As the OP implies, it’s only for 401k, 403b, and governmental 457b plans.

For IRAs, the $1,000 catch-up limit for those over 50 will now be indexed to inflation, but I’m not sure if it’s going to be in increments of $500 or not. Seems unlikely to raise it in smaller increments but I haven’t seen any guidance on that yet.

Yes, I absolutely am this yr. Sorry if I was unclear. I just haven't surpassed the normal max amount yet to start adding the catch-up. Should hit the 23k on Oct 1st paycheck. I'll probably end up a little shy of the catch up max.