Have you heard the good news? The IRS announced late last year 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 catch-up contribution limit for aged 50 and over remains at $7,500. This means if you are 50 yrs or older you
Review Funding For Your Retirement Accounts In 2022
January is a great time to review contributions to your retirement plans. Starting in 2022, the maximum contribution that individual U.S. taxpayers can contribute to their 401(k) plans will increase to $20,500, up from $19,500 for 2021 and 2020. With the cost of living rising and increases in inflation, higher phase-out limits make many more