Just Announced: 2024 Contribution Limits

Just Announced: 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´╗┐


Bjork Asset Management

1033 Skokie Boulevard, Suite 210

Northbrook, IL. 60062

  1. 312.464.7072
  2. 312.464.7083

ClientCare@BjorkAM.com

www.BjorkAM.com

Securities and Retirement Plan Consulting Program advisory services offered through LPL Financial, a registered investment advisor, member FINRA/SIPC. Other advisory services offered through Global Retirement Partners LLC, a registered investment advisor. Global Retirement Partners LLC and Bjork Asset Management are separate entities from LPL Financial.

The LPL Financial representative associated with this website may discuss and/or transact securities business only with residents of the following states: CO, FL, GA, IL, IA, MN, NC, WI.

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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