for-401(k)

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IRS contribution limits for 2024 During 2024, employees will be able to contribute up to $23,000 to the 401(k) Plan on a pre-tax and/or Roth basis, which is an increase of $500 from 2023. Employees who are age 50 or older at any time during 2024 may make additional “catch-up” contributions to the 401(k) Plan of up to $7,500 over the $23,000 limit on a pre-tax and/or Roth basis. Note: There will be 27 pay periods in 2024, so please calculate your contributions accordingly. The overall contribution limit to the 401(k) Plan and the TVARS Fixed and Variable Funds for…