| Limit Type | 2024 | 2023 |
|---|---|---|
| Basic Limit (Section 415 Limit 1,2) | $69,000 | $66,000 |
| General Limit on Salary Reduction Contributions (Section 402 (g) Limit1,2,3) | $23,000 | $22,500 |
| Additional Salary Reduction Contributions 1,3 (Age 50 or over) | $7,500 | $7,500 |
| Limit Type | 2024 | 2023 |
|---|---|---|
| 457(b) Plan Limit 1,2 | $23,000 | $22,500 |
| Limit Type | 2024 | 2023 |
|---|---|---|
| Traditional and Roth IRA Contribution Limits1 | $7,000 | $6,500 |
| Additional IRA Catch-up Contributions (Age 50 or over) | $1,000 | $1,000 |
1 The IRS may adjust future limits annually for inflation. Adjustments, if any, will be in $500 increments.
2 The maximum contribution is the lesser of 100% of compensation or this adjusted limit.
3 Includes employee salary reduction contributions and Roth elective deferral contributions.
For additional information, please contact us today at 1-888-98-GUIDE (1-888-984-8433).
Article 