The Internal Revenue Service (IRS) has recently announced the contribution limits for qualified retirement plans in 2024. This information is important for planning your financial future. The announcement includes an increase in 401(k) contributions from $22,500 to $23,000, and an increase in IRA contributions from $6,500 to $7,000. For a more detailed view of the retirement plan limits, please refer to the table below.
If you have any questions about your contribution level, how to invest your 401(k) balance, and/or about financial wellness, complimentary help is available to every participant through our financial advisory partner, CAPTRUST. Visit captrustadvice.com to explore resources and/or schedule an appointment via phone at 800.967.9948.