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These retirement bills let older workers put even more into their 401(k)s
Source: CNN Business
Jeanne Sahadi, CNN Business//May 3, 2022
These retirement bills let older workers put even more into their 401(k)s
Source: CNN Business
Jeanne Sahadi, CNN Business//May 3, 2022
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If a popular piece of retirement legislation makes it to President Biden’s desk this year, it would give older 401(k) participants the opportunity to contribute more to their nest egg and possibly bolster their tax-free savings.
Currently, anyone 50 or older may contribute an additional $6,500 on top of the annual $20,500 federal 401(k) contribution limit, for a total of $27,000 a year.
