Posts tagged saving
Catch-Up Contributions

A recent survey found that 17% of people were very confident about having enough money to live comfortably through their retirement years. At the same time, 36% were not confident.

Congress in 2001 passed a law that can help older workers make up for lost time. But few may understand how this generous offer can add up over time.

The “catch-up” provision allows workers who are over age 50 to make contributions to their qualified retirement plans in excess of the limits imposed on younger workers.

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