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2024 Qualified Plan Limits

Maximum Benefits and Contribution Limits

Annual Limits

2024

 

2023

 

2022

 

Employee Elective Deferrals for 401(k), 403(b) and 457(b) Plans $23,000 $22,500 $20,500
Employee Elective Deferral Catch-Up $7,500 $7,500 $6,500
Maximum Annual Compensation $345,000 $330,000 $305,000
Defined Contribution Annual Addition Limit $69,000 $66,000 $61,000
Highly Compensated Threshold
$155,000 $150,000 $135,000
Defined Benefit Annual Limit $275,000 $265,000 $245,000
SIMPLE IRA Contribution Limit $16,000 $15,500 $14,000
SIMPLE IRA Catch Up Contribution $3,500 $3,500 $3,000
Traditional IRA and Roth IRA Contribution Limit $7,000 $6,500 $6,000
Traditional IRA and Roth IRA Catch Up Contribution $1,000 $1,000 $1,000
Social Security Taxable Wage Base $168,600 $160,200 $147,000

For professional consultation, contact Marianne Lyons

Securities offered through Cambridge Investment Research, Inc., a Broker/ Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor.

 

Cambridge Investment Research, Inc.

613 Baltimore Drive, Wilkes Barre PA 18702

570-831-9900

 

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