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IRS Indexed Limits

The IRS indexed dollar limits to qualified retirement plans are provided in the table below. This is provided for informational purposes and is not intended as legal advice.

ItemIRC Reference2023 Limit2024 Limit
401(k) and 403(b) Employee Deferral Limit1402(g)(1)$22,500$23,000
457 Employee Deferral Limit457(e)(15)$22,500$23,000
Catch-up Contribution2414(v)(2)(B)(i)$7,500$7,500
Defined Contribution Dollar Limit415(c)(1)(A)$66,000$69,000
Defined Benefit Dollar Limit415(b)(1)(A)$265,000$275,000
Compensation Limit3401(a)(17); 404(l)$330,000$345,000
Highly Compensated Employee Income Limit4414(q)(1)(B)$150,000$155,000
Key Employee Officer416(i)(1)(A)(i)$215,000$220,000
Social Security Taxable Wage Base $160,200$168,600


Tax Credits For Retirement Plan Participants5

The chart below shows the percent of your contribution (up to $2,000) you are eligible to receive as a tax credit based on your annual adjusted gross income and filing status. See the IRS website for filing instructions.6

Tax CreditMarried, Filing JointlyHead of HouseholdAll Other Filers
50%$0 - $46,000$0 - $34,500$0 - $23,000
20%$46,001 - $50,000$34,501 - $37,500$23,001 - $25,000
10%$50,001 - $76,500$37,501 - $57,375$25,001 - $38,250
0%More than $76,500More than $57,375More than $38,250


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