{"id":18668,"date":"2025-01-07T09:00:00","date_gmt":"2025-01-07T14:00:00","guid":{"rendered":"https:\/\/sourcelive.hr.msu.edu\/?p=18668"},"modified":"2025-01-07T08:19:08","modified_gmt":"2025-01-07T13:19:08","slug":"retirement-planning-2025-irs-retirement-plan-contribution-limits","status":"publish","type":"post","link":"https:\/\/sourcelive.hr.msu.edu\/?p=18668","title":{"rendered":"Retirement Planning: 2025 IRS Retirement Plan Contribution Limits\u00a0"},"content":{"rendered":"\n<p>Whether your retirement is on the horizon or a faraway goal, it\u2019s important that you continue to monitor and adjust how much you\u2019re saving if you want to have a comfortable retirement. The IRS places limits on how much employees can contribute to a retirement plan each year and recently announced the retirement plan limits for 2025:&nbsp;<\/p>\n\n\n\n<ul>\n<li>The annual employee contribution amount increased from $23,000 to\u202f<strong>$23,500<\/strong>\u202ffor 403(b) and 457(b) plans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul>\n<li>The age 50 catch-up contribution amount remains the same at<strong>\u202f$7,500<\/strong>\u202ffor 403(b) and 457(b) plans.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>If you want to save as much as possible for your retirement, a tool in the EBS Portal called the Max Savings Contributions Calculator is available to assist you. This tool automatically displays the remaining amount of retirement contributions you have available before reaching one of the limits, and the equivalent percentage of your pay to help you spread that out for the year.\u00a0<\/p>\n\n\n\n<p>To access this tool:&nbsp;<\/p>\n\n\n\n<ol start=\"1\">\n<li>Login to the\u202f<a href=\"https:\/\/auth.msu.edu\/app\/msu_hrebspsap_1\/exkbgllogkeFjPMLn357\/sso\/saml\" target=\"_blank\" rel=\"noreferrer noopener\">EBS Portal<\/a>\u202fwith your MSU NetID and password.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"2\">\n<li>Click the\u202f<strong>My Benefits<\/strong>\u202ftab at the top.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"3\">\n<li>Click the\u202f<strong>Benefit\/Retirement<\/strong>\u202ftile.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"4\">\n<li>Select\u202f<strong>Enroll\/Change my Retirement\/Health Savings Account Options<\/strong>\u202fin the drop-down menu and then click\u202f<strong>Next<\/strong>\u202fin the bottom right.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"5\">\n<li>Navigate in the bar graph to the\u202f<strong>Savings Plans<\/strong>\u202fscreen by clicking\u202f<strong>Next<\/strong>\u202fin the bottom right.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"6\">\n<li>The\u202f<strong>Max Savings Contributions Calculator<\/strong>\u202fscreen will display. This display will automatically show the remaining amount of retirement contributions you have available (if any) before reaching the IRS limit.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"7\">\n<li>You can adjust the percentage of your contributions to any retirement plans you participate in by clicking on the pencil icon, and then choosing\u202f<strong>Select<\/strong>\u202fto make the change.\u00a0<\/li>\n<\/ol>\n\n\n\n<ol start=\"8\">\n<li>If you want to enroll in a new plan, begin by clicking on the paper icon next to the plan and vendor of your choosing, and then enter the percentage of your new contribution and choose\u202f<strong>Select\u202f<\/strong>to enroll.&nbsp;<\/li>\n<\/ol>\n\n\n\n<ol start=\"9\">\n<li>Make sure to click on\u202f<strong>Save<\/strong>\u202fin the bottom right to complete and save any changes\/enrollments.&nbsp;<\/li>\n<\/ol>\n\n\n\n<p>If you are an academic year faculty or academic staff employee, or a Voluntary 403(b) Base participant aged 50 and over, contact the HR Solutions Center at 517-353-4434 or SolutionsCenter@hr.msu.edu for further assistance in calculating your maximum contribution percentage.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Learn More About MSU\u2019s Retirement Plans<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The following articles contain more detailed information about MSU\u2019s retirement plan options and preparing for retirement:&nbsp;<\/p>\n\n\n\n<ul>\n<li><a href=\"https:\/\/sourcelive.hr.msu.edu\/?p=17532\" target=\"_blank\" rel=\"noreferrer noopener\">Your Top Questions About MSU\u2019s Optional Retirement Plans<\/a>&nbsp;<\/li>\n<\/ul>\n\n\n\n<ul>\n<li><a href=\"https:\/\/sourcelive.hr.msu.edu\/?p=16415\" target=\"_blank\" rel=\"noreferrer noopener\">Your Top Questions on Preparing for Retirement<\/a>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>The \u202f<a rel=\"noreferrer noopener\" href=\"https:\/\/hr.msu.edu\/benefits\/retirement\/about-retirement-plans.html\" target=\"_blank\">HR website<\/a> \u202falso contains a wealth of information about the different types of retirement plans offered, retirement investment vendors, and planning tools available.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether your retirement is on the horizon or a faraway goal, it\u2019s important that you continue to monitor and adjust how much you\u2019re saving if you want to have a comfortable retirement. The IRS places&hellip; <a class=\"continue\" href=\"https:\/\/sourcelive.hr.msu.edu\/?p=18668\">Continue Reading&#8230;<span> Retirement Planning: 2025 IRS Retirement Plan Contribution Limits\u00a0<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":18679,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"__cvm_playback_settings":[],"__cvm_video_id":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0},"categories":[2],"tags":[891,276,72,75,95],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sourcelive.hr.msu.edu\/wp-content\/uploads\/2025\/01\/IRS-Retirement-Photo.jpg?fit=1920%2C1008&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pb1fcA-4R6","_links":{"self":[{"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/posts\/18668"}],"collection":[{"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18668"}],"version-history":[{"count":4,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/posts\/18668\/revisions"}],"predecessor-version":[{"id":18682,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/posts\/18668\/revisions\/18682"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=\/wp\/v2\/media\/18679"}],"wp:attachment":[{"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sourcelive.hr.msu.edu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}