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Retirement Savings Limits 2023-2024

 

 

2023 - 2024

**IRA (Self/Spouse):                   $6,500 in 2023; $7,000 in 2024

**IRA (50 & Over):                       Additional $1000 in 2023,2024 

401(k) & 403(b):                         $22,500 in 2023; $23,000 in 2024

401(k) & 403(b)-50 & Over:      $30,000 in 2023; $30,500 in 2024

 

**NOTE:  IRA Contributions are subject to reduction if either taxpayer or spouse is covered by employer retirement plan