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Edward A. Wodarczyk

Of Counsel

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2024 IRS & SSA Benefits Alert

IRS and SSA Announce 2024 Indexed Numbers

The IRS and Social Security Administration have announced cost-of-living increases for retirement plans and other employee benefit plans for 2024.

20232024
Compensation Limit$330,000$335,000
Highly Compensated Employee150,000155,000
401(k), 403(b), 457(b) Deferral Limit                            22,50023,000
Age 50 Additional Catch-Up Limit 7,5007,500
Defined Contribution Plan Limit  66,00069,000
Defined Benefit Plan Limit                                          265,000275,000
Social Security Wage Base                                        160,200168,600
HSA Individual Contribution Limit                                   3,8504,150
HSA Family Contribution Limit                                       7,7508,300
Health FSA Limit                                                            3,050{TBD}
See the IRS website for more details regarding cost-of-living increases

For additional information, feel free to contact Ed Wodarczyk at (412) 594-3920 or at ewodarczyk@tuckerlaw.com.

November 03, 2023

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