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What is a “catch-up” IRA contribution, and am I eligible?

April 26, 2017catch-up contribution eligible IRA

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What is a “catch-up” IRA contribution, and am I eligible?

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The name says it all – catch-up contributions are specifically designed to help those who are getting closer to retirement catch up on their retirement savings. You’re eligible as long as you’re at least 50 years old during the year the contribution is for, and of course, as long as you meet the eligibility requirements for Traditional or Roth IRAs. Click here for contribution limits.