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2024 Contribution Limits

2024 Contribution Limits

| November 02, 2023

The new Retirement Plan Contribution Limits are official!

The following limits are going up for 2024:

  • Maximum contributions for 401(k), 403(b) and 457 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
  • Maximum contributions for SIMPLE retirement accounts increased to $16,000

Review the full list of contribution limit changes below and share with your plan participants!

Download 2024 Contribution Limits´╗┐


J. Timothy Corle CPC, CPFA, CFP®

Tycor Benefit Administrators, Inc.

850 Cassatt Road, Suite 310

Berwyn, PA 19312

www.tycorbenefit.com

610-251-0670

timc@tycorbenefit.com

Securities may be offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services may be offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS.   Kestra IS and Kestra AS are not affiliated with Tycor Benefit Administrators, Inc. or any entity referenced herein.  Click here to view Form CRS 

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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