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!
Bjork Asset Management
1033 Skokie Boulevard, Suite 210
Northbrook, IL. 60062
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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