Catch up contributions for individuals age 55 and older are allowed. However, it is not the responsibility of the bank to make sure you are eligible. You should consult your tax advisor or insurance agent to determine your eligibility. Catch up contributions were designed to help individuals out in later years so that a substantial amount can be saved before retirement to help defray meeting medical costs down the road. Contributions must stop once you are enrolled in Medicare, which is typically around age 65.