The Ford SSIP 401(k) plan will be expanding contribution options through the new 'Super Catch-Up' provision.
If you turn age 60 to 63 in 2025, you are eligible to contribute an additional $11,250 in catch-up contributions on top of the standard employee limit. This is part of the Secure 2.0 changes aimed at boosting retirement savings during peak earning years.
To take advantage of this increased limit, contact us and we can help review your 401(k) contributions and guide you through any necessary adjustments.