All the New Numbers You Need To Know for Planning Ahead on Taxes

In 2021, the annual contribution limit for 401(k), 403(b) and most 457 plans will remain at $19,500. You’re able to update your per-paycheck contribution at any time, so keep an eye on the total amount of money you’ve saved for the year, so you can make adjustments if necessary.

Also worth noting, the 401(k) catch-up contribution limit for workers ages 50 and up will remain at $6,500. You can make this extra contribution even if you turn 50 on Dec. 31, 2021.

Related: 27 Best Strategies To Get the Most Out of Your 401(k)