Skip to main content

Catch-up contributions were created to allow those who may not have had access to a retirement account earlier in their careers to contribute additional dollars toward their retirement. They provide a great opportunity to further maximize your retirement plan contributions. There are a few catch-up options that may be available, depending on the type of retirement plan your employer offers and the plan’s provisions.

Age 50 catch-up contributions

Beginning the year you turn 50, you can make catch-up contributions to 401(k), 403(b) and governmental 457(b) plans, if allowed by the plan. Before making the age 50 catch-up contributions, be sure you are first maximizing the plan’s regular contribution limits. The plan’s regular contribution limit can include the annual deferral limit, the plan’s contribution limit (for example, a plan may limit the amount a participant can contribute) or the contribution amount for highly compensated employees.

In 2024, provided you are eligible, you may contribute an additional $7,500 to your account as an age 50 catchup contribution.

2024 Limits401(k)
Regular contribution limit$23,000
Age 50 catch-up$7,500
Total contribution maximum$30,500

15-year catch-up contributions

If you have completed 15 years of service with a qualified organization, you may be eligible for this additional 403(b) catch-up contribution. Examples of qualified organizations include churches, convention or association of churches, educational organizations, health and welfare service agencies, home health service agencies and hospitals.

The 403(b) 15-year catch-up contribution allows you to contribute up to $3,000 beyond the normal annual plan contribution limits and age 50 catch-up contributions.

Additional limitations may apply to 403(b) 15-year catch-up contributions. Visit and search “403(b) Catch-up” to learn more.

Special 457(B) catch-up contributions

If you are participating in a 457(b) plan and are within three years of your retirement age, you may be eligible for the special pre-retirement 457(b) catch-up contribution. In 2024 this contribution allows you to contribute an additional $23,000 to the plan, above the plan’s annual contribution limit. If you are eligible for both the special pre-retirement 457(b) catch-up contribution and the age 50 catch-up contribution, you may not make both in the same calendar year.

Catch-up contributions may not be available in all plans. Additional limitations may apply. OneAmerica Financial is the marketing name for the companies of OneAmerica Financial. Products issued and underwritten by American United Life Insurance Company® (AUL), Indianapolis, IN, a OneAmerica Financial company.  Administrative and recordkeeping services provided by AUL or OneAmerica Retirement Services LLC, companies of OneAmerica which are not broker/dealers or investment advisors. Provided content is for overview and informational purposes only and is not intended and should not be relied upon as individualized tax, legal, fiduciary, or investment advice.

Investing involves risk including potential loss of principal.