Today the IRS came out with the new 2024 contribution limits for retirement plans and IRA’s. The full summary is shown at the bottom but here are the highlights:
457(b) Annual Contributions Limits for 2024:
Under Age 50 = $23,000
Turning Age 50 or Older = $30,500
Special Catch-Up = $46,000
2024 IRA Contributions Limits
Under Age 50 = $7,000
Turning Age 50 or Older = $8,000
In December we will send a follow up email to everyone reminding you to increase your contributions if you want to max out your 457(b) for 2024.
As always, please reach out if we can be of assistance!
- Your DecisionPoint Financial Planning Team -