Just released! 2024 IRS Contribution Limits

 2024 IRS Contribution Limits

Starting Jan. 1, 2024, you and your clients may be able to invest more thanks to an increase in the dollar limitations for some retirement-related items for the 2024 tax year.

The defined contribution plan annual additions limit will increase from $66,000 to $69,000. 

Federal tax law places limits on the dollar amount of contributions to retirement plans and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases.