IRS announces changes to the retirement contribution cap for 2024
The Internal Revenue Service made a welcome announcement for those who save for retirement: starting in 2024, the maximum amount that can be contributed to 401(k) and other well-known accounts will increase. The IRS increased the annual contribution limits for most 457 plans, 401(K), 403(b), and the government-sponsored Thrift Savings Plan by $500 to $23,000,…