Retirement Savings Limits Increased for 2024
- 401(k) contribution limit increases to $23,000 for 2024, up from $22,500 in 2023
- IRA contribution limit rises to $7,000 for 2024, up from $6,500
- Income ranges for deductible IRA contributions and Roth IRA eligibility increase
- Saver's Credit income limit rises to $76,500 for couples, $57,375 for heads of household, $38,250 for individuals
- SIMPLE IRA contribution limit increases to $16,000, up from $15,500
