US. These workers are allowed to save $35,000 a year in their 401(k)s. Here’s how many actually do it.
Super catch-up contribution rates are low: ‘Most people don’t have that kind of discretionary income’ Super catch-up contributions — which allow older workers to pack their 401(k) accounts to the tune of nearly $35,000 a year — might be a little less than super when it comes to participation rates, in part because most workers can’t afford to make them. Under the Secure 2.0 legislation passed by Congress in 2022, people ages 60 to 63 who participate in workplace retirement plans...
