The more you set aside today, the more prepared for retirement you may be. To contribute money toward your 401(k) Plan, you choose a flat amount or percentage—between 1% and 100%—that you want deducted from each paycheck through a Traditional and/or Roth 401(k), up to the IRS 2021 annual contribution limit, which is $19,500. In addition, the IRS has an annual 415(c) limit of $58,000 in 2021 which is inclusive of both your and JetBlue’s contributions to your account. You are always 100% vested, meaning you own the money, in your own contributions to your account.
If you’re age 50 or older: The IRS increases the annual contribution limit for people age 50 or older to allow you to contribute more money to your account—these are called “catch-up contributions.” The 2021 IRS annual limit for people age 50 and older is $26,000, meaning you can contribute an additional $6,500!