2024 Retirement Plan Contribution Limits. Download a printable pdf highlights version of this. $6,500 ($7,500 if you're age 50 or older), or.
The employee contribution limit for 401 (k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. Section 415 of the internal revenue code (“code”) provides for dollar limitations on benefits and contributions under qualified retirement plans.
The 2023 401 (K) Contribution Limit For Employees Was $22,500.
The amount you can contribute to a simple retirement account is increased to $16,000, up from $15,500.
Other Key Limit Increases Include The Following:
Traditional and roth ira contribution limits have been increased to $7,000.
Until Then, Here Are The Limits For 2024 Retirement Plan Contributions, As Verified By The Irs.
Images References :
Consider These Ways To Save For Retirement Without A 401 (K):
Other key limit increases include the following:
The Maximum Contribution For Family Coverage Is $8,300.
Download a printable pdf highlights version of this.