The IRS released their annual inflation adjustments for next year, including contribution limits, income limits for IRA contribution deductibility, and the salary threshold to classify key and highly compensated employees.
There is good news for retirement savers as individual contribution limits will increase from $22,500 in 2023 to $23,000 in 2024 for 401(k) and IRA plans. The maximum income levels allowed to make deductible contributions to both traditional and Roth IRAs have both increased for 2024.
Want to learn more? Download Ubiquity’s 2024 IRS Contribution Limits Guide below.
For 2023 limits please click here.
Or schedule a free consultation with a retirement specialist.
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Our consultants have an average of 10 years of experience and can help you navigate the 401(k) landscape – no obligation. Our team is here when you’re ready to get started on your 401(k). Schedule a time that works for you.
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Talk to Sales
Schedule a Free Consultation
Contact Support
Visit our Help Center
support@myubiquity.com
Monday–Friday
6am–5pm PT / 9am–8pm ET
© 2024 Ubiquity Retirement + Savings
44 Montgomery Street, Suite 300
San Francisco, CA 94104