Retirement

The qualified retirement plan is an easy way to save for your future. For details on eligibility and enrollment in the Imperial Electric Company Employee Money Purchase Benefit Plan, contact your local HR partner.

401(k) Contribution Limits for 2025

Recently, the IRS announced the 401(k) contribution limits for 2025 as follows:

• Employee contribution limit: $23,500
• Catch-up contributions for employees 50 and older: $7,500
• Catch-up contributions for employees 60–63: $11,250