As a business owner, offering a robust retirement plan is a key way to support your team and help them prepare for the future. It also reinforces your commitment to their long-term financial security, which can strengthen employee satisfaction and retention.

With the IRS recently releasing the 2025 employee benefit limits, it’s a great time to review your plan and ensure it aligns with the latest updates. Below, you’ll find the updated contribution limits for 2024 and 2025, including new opportunities for employees nearing retirement age.

IRS Employee Benefits Limits for 2024 and 2025

Source: Internal Revenue Service, irs.gov, November 1, 2024, and Social Security Administration, ssa.gov, October 10, 2024.

¹ The SECURE 2.0 Act of 2022 increases the catch-up limit for participants who attain age 60-63 during the calendar year. In the year the participant attains age 64, the limit reduces to the age 50 catch-up limit. Check with your plan sponsor to see if this new catch-up limit is available in your plan. 

Simplifying Retirement Plan Management

Managing a retirement plan doesn’t have to be overwhelming. A well-structured plan benefits both your business and your employees, but it’s important to find a solution that works for your unique needs.

The BLD Connection Multiple Employer 401(k) Savings Plan (MEP) is one option that can simplify plan administration while ensuring compliance with current regulations. By pooling member businesses into a group-managed 401(k), you can reduce administrative burdens and provide employees with a high-quality retirement savings option.

If you’re exploring ways to enhance your plan or start a new one, learning about the MEP could be a helpful next step.

Want to learn more? Watch our 401(k) Informational Video
Questions? Contact Dan Gardner at (612) 743-4961 or dgardner@osaicwealth.com.

Supporting your employees’ retirement planning helps build a stronger, more secure team—and ensures your business is positioned for long-term success.