Turning 60 Soon? Here’s a Limited-Time Retirement Boost You Don’t Want to Miss
If you're approaching your early 60s and feeling a bit behind on retirement savings, there's good news—and a narrow window of opportunity to catch up fast.
Beginning in 2025, a new provision in the SECURE 2.0 Act allows individuals ages 60 to 63 to contribute significantly more to their workplace retirement plans. It’s called the “super catch-up” rule, and it could allow you to contribute over $10,000 extra per year, on top of the usual limits.
But this opportunity only lasts three years, and it comes with a few important caveats.
What’s the Super Catch-Up Rule?
Right now, if you’re over 50, you can make catch-up contributions of up to $7,500 annually to a 401(k) or 403(b), in addition to the regular contribution limit ($23,000 in 2024).
But starting in 2025, if you’re between the ages of 60 and 63, you’ll be allowed to contribute up to $10,000 more, or 150% of the standard catch-up limit, whichever is greater.
Keep in mind that this enhanced savings opportunity only applies during those three specific years. Once you turn 64, it ends.
Why This Matters
For many people, the early 60s can be peak earning years. But they may also come with lingering doubts about retirement readiness, especially if you:
- Took time off for caregiving, parenting, or business reasons
- Had a late start saving or changed careers midlife
- Prioritized other financial goals, like helping kids with college or paying off debt
The super catch-up provision gives you a powerful way to make up ground quickly—and potentially retire with more confidence.
Key Things To Know
- Applies only to individuals aged 60–63, starting in 2025.
- If you earn over $145,000 a year, any catch-up contributions must be made to a Roth account. You’ll contribute after-tax dollars, but withdrawals you make in retirement will be tax-free.
- It’s only available for workplace retirement plans, not IRAs.
- Not all employers may adopt the rule right away, so check with your HR department or plan administrator to make sure it’s an option for you.
3 Things You Can Do Now
If you're nearing age 60—or are already there—here are three action items to take:
- Review your current contributions and how close you are to maxing them out
- Talk to your HR department to see whether your employer-sponsored plans will support this new option
- Meet with your Bridger Financial Group advisor to reevaluate your retirement strategy and determine whether a Roth contribution makes sense for your tax situation.
The new “super catch-up” rule offers a rare, time-sensitive opportunity to build retirement savings faster, especially for those looking to close the gap before retirement. With the proper planning, these next three years could make a significant difference in your long-term financial security. Your Bridger team is here to help you make the most of it.