New 2025 IRS Limits: January 1, 2025

The Internal Revenue Service (IRS) maximum contribution limits to your Peach State Reserves (PSR) 401(k) and 457 plans for 2024 will increase for 2025.

You can contribute the maximum amount to both a PSR 401(k) and 457 account. To increase your contributions, visit: GaBreeze.ga.gov

2025 Limits

• Under Age 50: $23,500
• Age 50-59: $31,000
• Age 60-63: $34,750*
• Over Age 63: $31,000

*New for 2025! Save more money for retirement with the SECURE 2.0 Act Super Catch-Up Contributions!

Consider boosting your retirement savings and catching up on contributions with the catch-up contributions option.

2024 Limits

• Under Age 50: $23,000
• Over Age 50: $30,500

Saving for Retirement

Even if you can’t contribute to the maximum amount, this is a great reminder to save as much as you can for your retirement. Open a retirement savings account or increase your contributions today! 

PSR participants, or those eligible for a PSR account, can increase contributions or open a 401(k) or 457 by visiting: GaBreeze.ga.gov.

For more information about contribution limits, including employer contribution limits, visit the IRS website: 401(k) and Profit-Sharing Plan Contribution Limits