Employee contribution elections (pre and post-tax) to the CIRS 401(k) Savings Plan must be made by Members through Voya. If Members wish to elect catch-up contributions, they must complete the attached Catch-up Form and submit the employer. Catch-up contributions are additional pre-tax contributions that Members who will be age 50 or older by the last day of the calendar year can make in addition to the IRS regular pre-tax contributions.
2025 IRS Pre-Tax Contribution Limits
- The IRS sets annual limits on the amount of pre-tax contributions employees can make to a 401(k) plan. These limits are applicable on a calendar year basis (January 1 – December 31). The 2025 limit for regular 401(k) pre-tax deferrals is $23,500.
- NEW Effective 1/1/2025, the law has changed in how catchup limits are structured. Instead of one flat dollar amount applicable to everyone over age 50, the law now allows for those ages 60-63 to contribute a higher amount.
- The 2025 catchup limits are:
- Ages 50-59 by 12/31/2025 – $7,500
- Ages 60-63 by 12/31/2025 – $11,250
- Ages 64+ by 12/31/2025 – $7,500