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What are catch-up retirement contributions for individual age 50 and older?

April 26, 2017age catch-up contributions individual Older retirement

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What are catch-up retirement contributions for individual age 50 and older?

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Individuals age 50 and older can make additional catch-up contributions to their retirement accounts. They can contribute an additional $1,000 per year to an Individual Retirement Account (IRA). The contribution limits are also increased for other types of retirement plans.