US Average Retirement Plan, In the United States of America, there is most dominant investment plan available is the 401(k) plan for retirees. The US Average Retirement Plan is a retirement investment and saving plan that is run by employers in the US.
It was created in a tax-advantaged system to maximize retirement savings and investments. In 2024, the 401k plan contribution limit was increased by $500 (from $22,500 to $23,000). If an employer is offering a 401k Plan to its workers and is not taking benefits of this increase it will be not able to take the benefits of this significant increase. The plan 401(k) is the most preferable option for retirement saving plans for various people.
Overview of US Average Retirement Plan and 401(k) Plan for 50 Years OldÂ
| Title | 50 Year Old 401(k) Balance Payment Date 2025 |
| Managed by | IRS / Internal Revenue Service |
| Retirement Savings Plan | 401(k) Plan |
| Country | The USA |
| Made for | 50 Years Old Citizens |
| Governing Organization Main Body | Federal Govt. of USA |
| 401(k) Annual Contribution Limit 2024 | $23,000 |
| 401(k) Annual Contribution Limit 2025 | $23,500 |
| Post Category | Finance |
| Official Portal | Know More |
Why 401(k) Limit Increase 2024 to 2025 for 50-year-old USA?
Implementing an updated 401(k) plan in 2025 for better retirement saving investment is the better choice. Moreover, your organization can align a part of contributions or complete of your 401k contributions by implementing this increase. According to the Secure Act 2.0 2022, the 401k plan will be modified in 2025.
There will be 5 key modifications that have been made in 2025, mentioned in this post. As of new modifications the maximum 401(k) contribution limit will be increased from $23,000 to $23,500, it will be increased by $500 from 2024 to 2025. Previously the 401k contribution limit was increased in 2024 from $22,500 to $23,000, increased by $500 from 2023 to 2024. Senior citizens aged 50 or more than 50 will be able to benefit from this increase.
Additionally, employers will have to enroll their employees mandatorily in this updated US Average Retirement Plan while some of them will be automatically enrolled. Some part-time workers will be eligible for a 401k Plan who are working at least 1000 hours yearly or working 500 hours per year continuously for two years. Additionally, according to new updates, the IRS has also clarified the 401k 10-Year Rule for beneficiaries with no spouse. They can also take advantage by accessing the IRS official website.
401(k) Retirement Saving Plan for the Average 50-Year-Old 2025
According to Vanguard Insights 2023, citizens of age between 45 and 54 who are registered with the US Average Retirement Plan, managed an average balance of $168,646. When it comes to the median balance it was $60, 763.
| Age | Average Balance | Median balance |
| 65 and up | $272,588 | $88,488 |
| 55 to 64 | $244,750 | $87,571 |
| 45 to 54 | $168,646 | $60,763 |
| 35 to 44 | $91,281 | $35,537 |
| 25 to 34 | $37,557 | $14,933 |
| Below 25 | $7,351 | $2,816 |
As of Empower’s data, as of the reports of December 2024, the Average 401(k) Balance for 50-year-olds is $592,285 this year. Whereas the median balance is $252, 850. Moreover, according to Fidelity’s Insights, the average balance for 50 Year 2025 is $191,900 this year.
| Generation | Age as of 2025 | Average IRA balance | Average 401(k) balance | Employer contribution | Employee contribution |
| Gen X | 45 to 60 | $100,169 | $191,900 | 5.0% | 10.2% |
| Baby boomers | 61 to 88 | $250,966 | $250,900 | 5.1% | 11.8% |
| Millennials | 29 to 44 | $24,097 | $66,500 | 4.6% | 8.6% |
| Gen Z | 13 to 28 | $6,497 | $13,000 | 3.8% | 7.2% |
50-Year Old Retirement Balance Payment Date 2025
The IRS provides several types of retirement benefits, US Average Retirement Plan 401k 2025 is one of those. It is to remember for those who are taking advantage, there are not any fixed dates for the claim 401(k) plan. Old-age citizens can claim for balance as soon as they are about to reach at 50s.
| Date of Births | Payment Dates |
| Between 1 and 10 of the month | 01/15/2025 |
| Between 11 and 20 of the month | 01/22/2025 |
| Between 21 and 31 of the month | 01/29/2025 |
How to Claim 401(k) Plan Benefits in 2025?
Individuals can easily apply for Retirement benefits plans in 2025 if they are eligible for these benefits. To claim a 401(k) US Average Retirement Plan, you can go through these simple steps:
| Home Page | TMBU |
- The very first step is to visit the official website of the Social Security Administration.
- Click on Apply for Retirement Benefits and fill out the claim form.
- Submit the required supporting documents and submit the form.
Balvinder Saaga, an engineering graduate from Delhi University, has been passionately working as a content writer since 2021. Hailing from Punjab, Balvinder specializes in crafting informative and engaging content with a core focus on education and social schemes