Related to: Social Security Limit

Employee Benefits Update: IRS Benefit Plan Limitations 2024

Earlier this afternoon, the Internal Revenue Service issued the adjusted retirement plan limitations for 2024. As expected, most of the limits will significantly increase from 2023: Elective Deferral Limit: $23,000 (increased from $22,500 in 2023) Catch-Up Contributions: $7,500 (the same as in 2023) 415 (Total) Plan Limit: $69,000 (increased from $66,000 in 2023) Compensation Limit:…

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