Resolve to save more this year!

457(b), 403(b), and Thrift Savings Plans

The contribution limit for employees who participate in a 457(b) plan, 403(b) plan, or the federal government’s Thrift Savings Plan is $23,000 in 2024 (up from $22,500 in 2023).

Catch-Up Contributions

The catch-up contribution limit for individuals age 50+ is $7,500 in 2024 (unchanged from 2023).

Defined Contribution Plans in Total

The total contribution limit for defined contribution plans is $69,000 in 2024 (up from $66,000 in 2023).

IRAs

The contribution limit to an Individual Retirement Account (IRA) is $7,000 (up from $6,500 in 2023).

For Additional Details:

Read the IRS’ full announcement here.

Contact your RPA Financial Advisor to increase your retirement plan contributions.