| 2024 Retirement Plan Limits |
| |
2024 |
2023 |
| Salary Deferral Limit (IRC §402(g)(1)) |
$23,000 |
$22,500 |
| Catch-up Limits for 401(k), 403(b), 457 plans (IRC §414(v)(2)(B)(i)) |
$7,500 |
$7,500 |
| DC Annual Addition Limit (IRC §415(c)(1)(A)) |
$69,000 |
$66,000 |
| HCE Threshold (IRC §414(q)(1)(B)) |
$155,000 |
$150,000 |
| Max Compensation for Retirement Plans (IRC §401(a)(17)) |
$345,000 |
$330,000 |
| Key Employee – Officer (IRC §416(i)(1)(A)(i)) |
$220,000 |
$215,000 |
| Key Employee – 1% Owner |
$150,000 |
$150,000 |
| Taxable Wage Base for OASDI |
$168,600 |
$160,200 |
| DB Annual Limit (IRC §415(b)(1)(A)) |
$275,000 |
$265,000 |
| 457(b) Contribution Limit (IRC §457(e)(15)) |
$23,000 |
$22,500 |
| SIMPLE 401(k) Limit (IRC §408(p)(2)(E)) |
$16,000 |
$15,500 |
| SIMPLE 401(k) Catch-up (§IRC 414(v)(2)(B)(ii)) |
$3,500 |
$3,500 |
| Maximum ESOP Account Balance (IRC §409(o)(1)(C)(ii)) |
$1,380,000 |
$1,330,000 |
| ESOP 5-year Distribution Period Limit |
$275,000 |
$265,000 |
| QLAC (Treas. Reg. §1.401(a)(9)-6) |
$200,000 |
$155,000 |
| IRA Contribution Limit |
$7,000 |
$6,500 |
