Author Topic: "Catch-up" contributions at age 50 - question  (Read 184 times)

MsPeacock

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"Catch-up" contributions at age 50 - question
« on: November 06, 2018, 06:19:57 PM »
I can't seem to turn this information up online.

I turn 50 in the later part of 2019. Can I start making the catch-up contributions in January? I assume so, as the tax is calculated for the entire year. But I want to be certain before I change my contributions. Everything I find just references being 50, without specifying how it plays out for the entire year.

Thanks!

lhamo

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Re: "Catch-up" contributions at age 50 - question
« Reply #1 on: November 06, 2018, 06:51:46 PM »
Yes, you can start making the catch up contributions at the beginning of the year you will turn 50:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-catch-up-contributions