Boost your retirement savings with 401(k) catch-up contributions
If you're getting close to retirement but feel you have not saved enough or just want to save more to boost your nest egg, you may be able to make a catch up contributions to your 401(k) account. Starting in the year you attain age 50, you may be eligible to make catch up contributions.
How much more can you contribute?
The limit for catch up contributions is set forth by Treasury Regulations and is adjusted periodically in increments of $500. The latest information for catch up contribution limits can be found on the IRS website.