What you need to know
The IRS has raised the 401(k) contribution limit for 2025 to $23,500 (up from $23,000 in 2024). If you are age 50 or older, you can contribute an additional $7,500 in catch-up contributions for a total of $31,000.
Visit our MyRetirement website to access your 401(k) Savings Plan, change your contribution amount, and take advantage of the personalized investing and retirement planning tools and resources to help build your retirement nest egg.
Stay on course for your financial security
Take some time to explore our MyRetirement website (the SSO link is always available at the top of any page on this site). Be sure to review your Plan Overview dashboard, account details, financial planning resources, and other tools, such as the retirement planner calculator. While the 2025 IRS limits are only increasing a little bit, small amounts can add up over time. As you start the new year, take a few minutes to:
- Adjust your contribution percentage to reflect the increased 2025 limit, and ensure that you contribute each pay period throughout the year to maximize any company match.
- Will you turn 50 next year? Then you’ll be eligible to make catch-up contributions throughout 2025 to save even more!
- Sometimes things change. Review your investment allocations for your account balance and future contributions to be sure they fit your financial strategy.
- Check your beneficiaries’ details, just in case the unthinkable happens.
- Stay vigilant about your account security. Set your communication preferences to receive electronic messages and alerts to confirm account activities.
- Use the online tools and resources to help you build an emergency fund and reach your financial and retirement goals.
- Download the Empower app for use on your smartphone or tablet.
Did you know?
Ninety-three percent of BAE Systems employees contribute to our 401(k) Savings Plan. Enhance your financial fitness by making the most of your contributions to save for your retirement.
Questions?
Call 1 800 622 5533 to reach the BAE Systems Retirement Center, and speak with a representative Monday through Friday from 8 a.m. to 10 p.m. ET or Saturdays from 9 a.m. to 5:30 p.m. ET.