Retirement savers can stash more money in their 401(k)s next year. Friday, the IRS announced cost-of-living adjustments for retirement plans and IRAs.

Every year, the amount of money you're allowed to contribute to an IRA or 401 (k) can change. And the IRS just announced 2025's contribution limits. Here's what you need to know. In 2025, you'll be able to contribute up to $23,500 to your 401 (k) if you're under the age of 50. That's a $500 increase from 2024.

The IRS's contribution limit for 401(k) plans is higher in 2025, although the cap for IRAs is staying the same.

The Roth IRA contribution limits for 2025 are $7,000, or $8,000 if you're 50 or older, unchanged from 2024. The income phase-out for taxpayers making contributions to a Roth IRA increased. The IRS has unveiled the Roth individual retirement account contribution and income limits for 2025.

If you're ready to save more money for retirement, the new 2025 IRA contribution rules could help. See how people aged 50 and over can save extra in 2025.

John Mills is a registered investment advisers and certified financial planner. Reach him at 707-254-0155 or MillsWealth.com. Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Strategic Wealth Advisors Group (SWAG), a registered investment adviser.

Contribution limits for 401(k) and other workplace retirement plans rise for 2025. Sixty- to 63-year-olds get a super contribution for the first time.

The IRS released its updated contribution limits and adjustments to eligibility thresholds for 401(k) plans, IRAs and other retirement plans to account for inflation.

The Internal Revenue Service on Friday announced the 2025 contribution limits for 401(k) and Individual Retirement Arrangement plans.

The IRS announcement comes roughly one week after the agency unveiled dozens of inflation adjustments for 2025, including federal income tax brackets.