IRS Drops New Retirement Plan Limits for 2024: Here’s What Employers Need to Know As You Look Ahead

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11.06.23

Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) accounts, according to an IRS announcement made on November 1. Employees can defer up to $23,000 in 2024 – which is $500 more than the current 2023 limit. Want to know more about the 2024 benefits limits for retirement and health savings plans? Click here for our detailed breakdown and six critical steps you should consider for the new year ahead.

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