US retirement plans: Key changes announced for 2025, here' what the IRS has announced

The Internal Revenue Service has announced new retirement contribution limits for Americans. From 2025, contribution limits for 401(k), 403(b), and other plans will increase. Catch-up contribution limits for older individuals will also see adjustments. Income phase-out ranges for IRA contributions and Saver's Credit eligibility have been revised. These changes, effective from 2025, aim to help Americans boost their retirement savings.