The new Retirement Plan Contribution Limits are official!
The following limits are going up for 2024:
Maximum contributions for 401(k) increases to $23,000
Maximum contributions for individual retirement accounts (IRAs) increases to $7,000
Maximum contributions for highly compensated employees increased to $155,000
Review the full list of contribution limit changes below and share with your plan participants!
CrossPlans
23041 Avenida de la Carlota
Suite 300
Laguna Hills, CA 92653
714.210.4164
949.387.0611 Fax
This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance or tax/legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation.
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