IRS contribution limits
Understanding IRS contribution limits is important, especially when your goal is to contribute the maximum to your account. Even if you can’t do the max, consider increasing your contribution a little each year to potentially move closer to your retirement goals.
2025 deferral limits1
| Standard 457(b) deferral |
| $23,500 |
| Age 50+ catch-up for 457(b)3 |
| $7,500 |
| Special 457(b) catch-up4 |
| up to $47,000 |
| Special age based (60-63) catch-up |
| $34,750 |
2024 deferral limits2
| Standard 457(b) deferral |
| $23,000 |
| Age 50+ catch-up for 457(b)3 |
| $7,500 |
| Special 457(b) catch-up4 |
| up to $46,000 |
Contribution Limits for 401(a) Plans
Within the first 90 days of employment, permanent County and Court employees can irrevocably elect to contribute one of the following percentages of compensation to the 401(a) Incentive Retirement Deferred Compensation Plan: 2.5%, 5%, 10%, 15%, 20%, or 25%.
How much should I contribute?
If your goal is to contribute the standard 457(b) maximum, you would need to contribute $904 per biweekly paycheck ($23,500 for the calendar year beginning with the first paycheck in January 2025).
To take advantage of the Age 50+ catch up, you could contribute up to $1,193 per biweekly paycheck ($31,000 for the calendar year).
If you are eligible and wish to use the full Special 457(b) Catch-up provision, you could contribute up to $1,808 per biweekly paycheck ($47,000 for the calendar year).
If you’re between 60 and 63 years old, you can make catch-up contributions the greater of $10,000 or 150% of the standard catch-up contribution at the time to your 457(b). This new provision from The SECURE 2.0 Act of 2022 is effective January 1, 2025.
Get the help you need
Talk with one of our Retirement Specialists for more information about planning for your retirement.
[1] 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000
[2] 401(k) and IRA limits increases for 2024
[3] The Age 50+ Catch-up provision allows people over age 50 to contribute more to their deferred compensation account.
[4] The Special 457(b) Catch-up Provision applies only to 457 plans; it is part of the Section 457(b) of the Internal Revenue Code, and was amended by the Pension Protection Act of 2006. Participants who have not contributed the maximum limit under IRS law in previous years may contribute an amount less than or equal to the maximum limit (essentially, up to double the maximum) in the three years prior to the individual’s normal retirement age.