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The new Retirement Plan Contribution Limits are official for 2024!
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!
The Gasaway Team
7110 Stadium Drive
Kalamazoo, MI 49009
(269) 324-0080
FAX (269) 324-3834
This presentation is not an offer or a solicitation to buy or sell securities. The material discussed is meant to provide general education information only and it is not to be construed as specific investment, tax or legal advice and does not give investment recommendations.
Certain risks exist with any type of investment and should be considered carefully before making any investment decisions. Keep in mind that current and historical facts may not be indicative of future results.
Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, https://adviserinfo.sec.gov/firm/summary/123807.
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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