Coverage dated October 31, 2023 to November 1, 2023
Here Are the 401(k) and IRA Contribution Limits for 2024
Headline from Wall Street Journal
The IRS released new retirement account contribution limits—here’s how much more you can save.
Wall Street Journal's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Retirement plan contribution limits are among several values that the agency, by law, has to adjust every year to account for changes in the cost of living, so you can thank inflation for the increase.
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 has increased the 401(k) plan contribution limits for 2024, allowing employees to defer up to $23,000 into workplace plans, up from $22,500 in 2023.