Planning is an important element when working towards financial goals, especially when thinking about retirement. Learn more about retirement options available for small business employers and individual investors.
Contributions deadline for 2024 can be made as late as tax filing deadline.
People age 50 and older can save additional money.
Invest IRS refunds via direct deposit.
Employer retirement plans offer a systematic approach to saving for retirement and often have higher savings potential. Following each plan, you'll find the required materials to open an Invesco account.
| Contribution maximum | Funding deadline1 |
|||
|---|---|---|---|---|
| Solo 401(k) | 2025 | 2024 | 2025 | 2024 |
| Overall contribution if under age 502 | $70,000 | $69,000 | Tax filing deadline + extension | |
| Participant contribution maximum | $23,500 | $23,000 | Dec. 31 | Dec. 31 |
| $7,500 | $7,500 | Dec. 31 | Dec. 31 | |
| Participant catch-up contribution at ages 60 - 633, 5 | $11,250 | N/A | Dec. 31 | |
New plan deadline for incorporated businesses: Tax filing deadline + extension6
New plan deadline for sole proprietors: Employer's tax return deadline (no extenions)7
Get started: Complete Solo 401(k) kit
| Contribution maximum | Funding deadline1 |
|||
|---|---|---|---|---|
| SEP IRA | 2025 | 2024 | 2025 | 2024 |
| Employer contribution per participant | $70,000 | $69,000 | Tax filing deadline + extension | |
New plan deadline: Tax filing deadline + extension
Get started: Complete SEP IRA Application
Contribution Maximum8 |
Funding deadline1 |
|||
|---|---|---|---|---|
25 and fewer employees |
2025 |
2024 |
2025 |
2024 |
Participant contribution maximum (COLA) |
$17,600 |
$17,600 | Within 7 business days of payroll |
Within 7 business days of payroll |
| Participant catch-up contribution at age 503, 4 | $3,850 | $3,850 | Within 7 business days of payroll | Within 7 business days of payroll |
$5,250 |
N/A |
Within 7 business days of payroll |
Within 7 business days of payroll | |
| Employer contribution: match or non-elective9 | Mandatory | Mandatory | Tax filing deadline + extenstion | Tax filing deadline + extenstion |
| 26 and greater employees | 2025 |
2024 |
2025 |
2024 |
|---|---|---|---|---|
| Participant contribution maximum (COLA) | $16,500 | $16,000 | Within 7 business days of payroll | Within 7 business days of payroll |
| Participant catch-up contribution at age 503, 4 | $3,500 | $3,500 | Within 7 business days of payroll | Within 7 business days of payroll |
| Participant catch-up contribution at 60-633, 5 | $5,250 | N/A | Within 7 business days of payroll | Within 7 business days of payroll |
| Employer contribution: match or non-elective9 | Mandatory | Mandatory | Tax filing deadline + extenstion | Tax filing deadline + extenstion |
| Special Contributions | 2025 |
2024 |
2025 |
2024 |
|---|---|---|---|---|
| Increased participant deferral contribution (permitted if match is 4% or non-elective 3%) | Conditional10 $17,600 |
Conditional10 $17,600 |
Within 7 business days of payroll | Within 7 business days of payroll |
| Enhanced participant catch-up contribution at age 50 (permitted if match is 4% or non-elective 3%)3, 4 | Conditional10 $3,850 |
Conditional10 $3,850 |
Within 7 business days of payroll | Within 7 business days of payroll |
New plan deadline: Oct. 1
Get started: Complete SIMPLE Plan Establishment Kit for Employers.
|
Contribution maximum |
Funding deadline1 |
||
|---|---|---|---|---|
Payroll Deduction IRA11 |
2025 | 2024 | 2025 | 2024 |
Traditional and Roth IRAs12 |
$7,000 |
$7,000 |
Dec. 31 |
Dec. 31 |
$1,000 |
$1,000 |
Dec. 31 |
Dec. 31 | |
New plan deadline: None
Get started: Complete Payroll Deduct Employer Application and IRA Application
Contributing to an IRA can help kick-start retirement savings or boost existing retirement savings strategies while taking advantage of its tax benefits. To support savings efforts, use the IRS’ direct deposit program to invest tax refunds.
While income eligibility requirements are generally needed when contributing to a traditional or Roth IRA, no income requirements are needed if no tax deduction is taken in a traditional IRA. This is referred to as a nondeductible IRA. Learn more about how these plans compare and speak with your financial or tax professional to determine the solution most suitable for your situation.
Traditional IRA deduction range14 |
2025 |
2024 |
|---|---|---|
Single, covered by a workplace plan |
$79,000-$89,000 |
$77,000-$87,000 |
Joint tax return for person covered by a workplace retirement plan |
$126,000-$146,000 |
$123,000-$143,000 |
Married filing separately for person covered by a workplace retirement plan |
$0-$10,000 |
$0-$10,000 |
Joint tax return for spouse not covered by a workplace retirement plan |
$236,000-$246,000 |
$230,000-$240,000 |
The Roth feature can help investors of all ages build retirement savings
Discover how Roth features in retirement plans like Roth IRA, SIMPLE IRA, Solo 401(k), and 403(b) can help investors of all ages grow tax-free savings, manage taxable income, and gain distribution flexibility. Learn about 2025 contribution limits, strategic tax planning, and estate benefits.
Retirement contribution limits and deadlines
Find important retirement contribution limits and deadlines for small business retirement plans and individual retirement accounts.
Explore our other retirement plans designed to help you get more out of retirement.
Explore our lineup of individual and business retirement plans designed to help you get more out of retirement.
An easy plan option designed to help owner-only employers save for retirement.
A retirement plan solution for businesses with up to 100 employees.
A versatile retirement savings plan suited for educators.
A flexible plan for self-employed individuals and small business owners.
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The information provided is general in nature and may not be relied upon nor considered to be the rendering of tax, legal, accounting or professional advice. Readers should consult with their own accountants, lawyers and/or other professionals for advice on their specific circumstances before taking any action. Invesco does not provide tax advice.
The tax information contained herein is general and is not exhaustive by nature or a comprehensive resource for tax-qualified retirement plans. Federal and state tax laws are complex and constantly changing. You should always consult your own legal or tax professional for information concerning your individual situation.
All investing involves risk, including risk of loss.
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