Age 50+ catch-up
If you are age 50 or older by the end of the year, your individual limit is increased by $6,500 in 2020 and 2021. This means your individual limit increases from $19,500 to $26,000 in 2020 and 2021.
Special 457(b) catch-up
Participants who have not contributed the maximum limit under IRS law in previous years may contribute an amount less or equal to the maximum limit (essentially, up to double the maximum) in the three years prior to the individual's normal retirement age.
Contact Nationwide to take action on these catch-up offers.