Recently, we highlighted the most important new retirement plan rules (known as the Secure Act 2.0), that Congress passed last year. The most prominent change was raising the age when you must begin taking Required Minimum Distributions (RMDs) from your retirement plan and taxable IRAs from 72 to 73 beginning this year, and to age 75 beginning in 2033.

The law also made two important changes to the rules for making 401(k) salary deferrals. Currently, you and your spouse can make regular tax-deductible salary deferrals of up to $22,500. If you’re 50 or older, you can add an additional tax-deductible catch-up deferral of $7,500 per spouse, for a maximum salary deferral of $30,000 per spouse annually.