Assumptions for 2024 retirement plan limits

October is the usual month that the Internal Revenue Service to come down from the mountain and announce the 2024 retirement plan limits, but we can guess.

The 402(g) salary deferral limit might rise by $500 or 2.2%, according to a forecast from Mercer from $22,500 to $23,000 next year.

Mercer claims there will be no increase in the $7,500 in catch-up contributions allowed for those over 50.

This estimated is based when the official inflation figure is 3.2%.

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