Edward A. Wodarczyk

2024 IRS & SSA Benefits Alert

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

	2023	2024
Compensation Limit	$330,000	$335,000
Highly Compensated Employee	150,000	155,000
401(k), 403(b), 457(b) Deferral Limit	22,500	23,000
Age 50 Additional Catch-Up Limit	7,500	7,500
Defined Contribution Plan Limit	66,000	69,000
Defined Benefit Plan Limit	265,000	275,000
Social Security Wage Base	160,200	168,600
HSA Individual Contribution Limit	3,850	4,150
HSA Family Contribution Limit	7,750	8,300
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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