# Age-Based Savings Benchmarks How Your 2025 Nest Egg Should Compare to Your Current Salary

Hunter Gibson · December 6, 2024

> Age-Based Savings Benchmarks How Your 2025 Nest Egg Should Compare to Your Current Salary. Retirement Goals Before Age 40 Set Annual Salary Multiplicati...

## Age-Based Savings Benchmarks How Your 2025 Nest Egg Should Compare to Your Curre

From the data available, it seems the SECURE 2.0 Act introduces some interesting changes for those nearing retirement, specifically targeting the 60-63 age group. Starting in 2025, individuals in this bracket will be allowed to make "super" catch-up contributions to their retirement plans, up to an additional $11,250. This is calculated as the greater of $10,000 or 150% of the regular catch-up limit for those 50 and over, which is $7,500 through 2024. This applies to 401(k), 403(b), and governmental 457(b) plans, but not IRAs, it appears, as their catch-up contribution remains fixed at $1,000 for those 50 and above. Interestingly, only about 15% of eligible plan participants currently take advantage of catch-up contributions. One wonders why this number is so low - lack of awareness or perhaps financial constraints? It's also worth noting that these catch-up contributions will be adjusted for the cost of living annually. This is a crucial point, but will these adjustments actually keep pace with inflation in a meaningful way? A bit of a cynical thought is that these increased contribution limits might disproportionately benefit higher earners, potentially exacerbating wealth disparity. It's a complex issue, no doubt, and only time will tell what the real-world impact of these changes will be.

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