The U.S. IRS has announced that the 401(k) and IRA limits will be increased for 2024.
---
401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000
IR-2023-203, Nov. 1, 2023
WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.
The IRS today also issued technical guidance regarding all of the cost of living adjustments affecting dollar limitations…