IRS Announces 401(k) and IRA Limits for New Year

The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. That’s just the beginning: The IRS also has issued technical guidance regarding all the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items. Highlights of […]