CONTRIBUTION & INCOME LIMITS

*This page will be updated annually as the contribution limits are published. Track your contribution limits using my spreadsheet and avoid the penalties of contributing too much.

CONTRIBUTION LIMITS

RETIREMENT ACCOUNTS2023 Limit2024 LimitChange
401(k)/403(b) Employer-Sponsored Retirement Plan$22,500$23,000$500
401(k)/403(b) (Age 50+)$30,000$30,500$500
401(k)/403(b) Total Contribution (Under Age 50)$66,000$69,000$3,000
401(k)/403(b) Total Contribution (Age 50+)$73,500$76,500$3,000
457(b) Deferred Compensation Plan$22,500$23,000$500
415 DC (Defined Contribution) Plan$66,000$69,000$3,000
TSP (Thrift Savings Plan)$22,500$23,000$500
TSP (Age 50+)$27,000$30,500$3,000
Traditional IRA$6,500$7,000$500
Traditional IRA (Age 50+)$7,500$8,000$500
Roth IRA$6,500$7,000$500
Roth IRA (Age 50+)$7,500$8,000$500
SEP (Simplified Employee Pension) IRA $66,000$68,000$2,000
SIMPLE IRA/SIMPLE 401(k) Plans$15,500$16,000$500
HEALTHCARE ACCOUNTS2023 Limit2024 LimitChange
HSA (Health Savings Account) for Individuals$3,850$4,150$300
HSA (Health Savings Account) for Families$7,750$8,300$550
HCFSA (Healthcare Flexible Spending Account)$3,050$3,200$150
LEX HCFSA (Limited Expense Healthcare Flexible Spending Account)$3,050$3,200$150
DEPENDENT CARE/EDUCATION2023 Limit2024 LimitChange
DCFSA (Dependent Care FSA) per Household$5,000$5,000$0
DCFSA (Dependent Care FSA) if Married Filing Separate$2,500$2,500$0
529 Plan (Limits depend on State)VariesVaries–

INCOME LIMITS (COMING SOON!)

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