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    fauvette's Avatar
    fauvette Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Mar 14, 2009, 04:01 AM
    Catch-up 401K for over 55
    I been told that I can take $ 5000.00 each year (from 55 yrs old to 60 yrs old) to catch up. It is called 401K catch up or something like that... do you know anything about it ? My broker told me that but she is not sure of the exact name in 2010 it won't exist anymore... thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 6, 2009, 12:38 PM
    For the past few years, there was a catch-up provision for those over age 50 to increase their 401K withholding to $5,000 ($1,000 over the max withholidng of $4,000).
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