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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 the 2024 Contribution Limits´╗┐



Adcock Financial Group

H. Brian Adcock

311 W. Fletcher Avenue

Tampa, FL 33612

813-935-4091

www.adcockfinancial.com

[email protected]

 

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Adcock Financial Group is a member firm of PartnersFinancial. Kestra IS and Kestra AS are not affiliated with Adcock Financial Group or PartnersFinancial. Kestra IS and Kestra AS do not provide tax or legal advice. Please access the following site to review form CRS, Reg BI and relevant   disclosures.  www.kestrafinancial.com/disclosures

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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