INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King, who talks about changes to 401(k) plans, the FTC’s war on junk fees, and recalled Christmas tree light controllers.

401(k) plans are changing in the new year

For 2025, you can defer up to $23,500 into 401(k) retirement plans plans — up from $23,000 in 2024 — and workers age 50 and older can save an extra $7,500.

But starting next year, the catch-up contribution for workers ages 60 to 63 will rise to $11,250, which brings their total deferral limit to $34,750.

Experts suggest boosting 401(k) contributions now to maximize higher limits for 2025.

Typically, it takes a couple of pay periods for 401(k) contribution changes to go into effect, and you could miss some higher contributions in January by waiting.

More student loan borrowers consider refinancing

With the Federal Reserve’s recent cuts to interest rates, more federal student loan borrowers are wondering if they should refinance. The Consumer Financial Protection Bureau has new warnings for borrowers about the federal loan forgiveness opportunities they’ll forfeit.

FTC hitting back at junk fees on event tickets, hotel rooms

The Federal Trade Commission is taking action against the “junk fees” that are often tacked onto the price of hotel rooms and live-event tickets.

The commission approved a new rule requiring vendors to disclose the full price of such purchases up front — a move that will save consumers as much as 53 million hours a year figuring out pricing and fees.

The companies can still charge the fees — they just have to be more transparent about it.

40,000 wireless Christmas tree light controllers recalled

If you have a wireless Christmas tree light controller, there’s a recall you should know about.

The Consumer Product Safety Commission says more than 40,000 wireless Christmas tree light controllers are being recalled after the manufacturing company, “Mr. Christmas,” said they’re a fire hazard.

The controllers were sold nationwide at Walmart, target, and Cracker Barrel, and come in three different styles. The firm has gotten 10 reports so far of overheating, including one report of a fire.

Consumers who have one should stop using it and return it to where they bought it and get a full refund.

Taco Bell ‘flocking’ to chicken nuggets

Taco Bell is “flocking” to chicken nuggets to “re-coop” sales.

The fast food chain has been test marketing its version of chicken nuggets in Minneapolis and Houston and will roll out 5- and 10-piece crispy chicken nuggets featuring a tortilla breading at participating locations for a limited time.