Editor's Note
HSA and 401(k) Contribution Limits
I get it. December is not exactly the easiest time to think about saving money and taxes. Maybe there's never a great time.
I take it back. (Or strike that, if we're speaking lawyer. Have you noticed how many do-overs lawyers take?) I do know people who really love thinking about saving money and taxes and do it frequently. They are sensible and wise about these things.
I'm mostly disinterested. I am sensible and wise about other things, like how to compose a photograph or deal with weasels.
I also know that you can save money and reduce taxes by making contributions to your retirement plan and health savings accounts and that do this is both sensible and wise.
So here is a sensible and wise guide to the 2024 contribution limits for retirement and health savings accounts along with important information about other employee benefits limits and how to effectively manage them.
- Heather Bussing
Get Ready for The New Year Ahead -
Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) plans, according to an IRS announcement made on November 1. Your eligible workers will be able to defer up to $23,000 in 2024 – which is $500 more than the current 2023 limit. You can read more about the 2024 benefits limits for retirement and health savings plans on the next few pages — but before you flip the page, we want to remind you to consider taking these six steps as you prepare for the next plan year...
Please see full publication below for more information.
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