Discover how to maximize your contributions for a secure future. These were announced by the irs on november 1, 2023.
That means a new 401(k). After rising substantially from $20,500 in 2022 to $22,500 for 2023, mercer projects the annual cap to go up just $500 in 2024.
In This Piece, We’ll Review The 401(K) Contribution Limits For 2023 And 2024.
Participants who are 50+ can save an additional.
Boost Your Retirement Savings In 2024 With Increased 401(K) Limits!
These were announced by the irs on november 1, 2023.
Images References :
2024 401 (K)/403 (B)/401 (A) Total Contribution Limit.
For 2024, the 401 (k) annual contribution limit is $23,000, up from $22,500 in 2023.
The Employee Deferral Limit Increased By $500 And The Total.
In this piece, we’ll review the 401(k) contribution limits for 2023 and 2024.