New Retirement Contribution Limits for 2025

The Internal Revenue Service has released new limits for the coming year. Wayne Christian Financial Services can guide you in better understanding these changes. Contact us with your questions, and read below for more information.

Individual Retirement Accounts (IRAs)
IRA contribution limits remain unchanged in 2025 at $7,000. Catch-up contributions for those over age 50 also remain at $1,000, for a total limit of $8,000.

Roth IRAs
The income phase-out range for Roth IRA contributions increases to $150,000-$165,000 for single filers and heads of household, a $4,000 increase. For married couples filing jointly, the phase-out will be $236,000 to $246,000, a $6,000 increase. Married individuals filing separately see their phase-out range remain at $0-10,000.

Workplace Retirement Accounts
Those with 401(k), 403(b), 457 plans, and similar accounts will see a $500 increase for 2025, the limit rising to $23,500. Those aged 50 and older will still be able to contribute an extra $7,500, bringing their total limit to $31,000.

SIMPLE Accounts
A $500 increase in limits for 2025 gives individuals contributing to this incentive match plan a $16,500 stoplight.

Remember, this post is for informational purposes only and is not a replacement for real-life advice. We encourage you to consult with a professional from our team with your questions. You can call our office at 936-598-9966 M-F CST or send us an email at info@waynechristian.com. We can't wait to hear from you!

This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm.