Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) plans, according to an IRS announcement made on November 1. Your eligible workers will be able to defer up to $23,500 in 2025 – which is $500 more than the current 2024 limit. Want to know more about the 2025 benefits limits for retirement and health savings plans? Click here for our detailed breakdown and six critical steps you should consider for the new year ahead.
