What is the allowable catch-up contribution?

The allowable catch-up contribution for participants over 55 is $1,000. This amount adds to the coverage maximum limits.
 
For 2023, the maximum contribution limits with catch-up are:
Individual: $4,850
Family: $8,750
 
For 2024, the maximum contribution limits with catch-up are:
Individual: $5,150
Family: $9,300