Key milestones

Eligible for catch-up contributions; additional $7,500 for 401(k), 403(b) or 457(b) contributions or $1,000 for IRA¹

If eligible, may take assets from a qualified 401(k), 401(a) or 403(b) plan without a 10% early withdrawal penalty, though regular income taxes still apply; the 10% early withdrawal penalty does not apply to governmental 457(b) plans but regular income taxes apply

Starting in 2025, eligible for catch-up contributions to a higher limit; additional $11,250 for 401(k), 403(b) or 457(b) contributions^1,2

If eligible, earliest age to start taking Social Security (with a permanently reduced payout)

May be eligible for Medicare (note that people with a qualifying illness or disability may be eligible sooner)

For most people this is full retirement age (FRA) for Social Security, when you're eligible to receive 100% of your benefit; your exact FRA depends on your date of birth

If eligible, latest age to start taking Social Security (with the highest payout).

When you must start taking mandatory withdrawals, called required minimum distributions, from a traditional 457(b), 401(k), 401(a), 403(b) or an individual retirement account (IRA); age 73 if you were born in 1951 through 1959 or age 75 if you were born in 1960 or later