In 2024, several of the Cafeteria Plan and Retirement Plan annual limits are increasing. Check out the new limits below!
Annual Limits |
2023 |
2024 |
| 401(k), 403(b), 457 Deferral | $22,500 | $23,000 |
| 401(k), 403(b), 457 “Catch-Up” | $7,500 | $7,500 |
| 415 Defined Contribution Plan | $66,000 | $69,000 |
| 415 Defined Annual Compensation | $330,000 | $345,000 |
| IRA Contribution | $6,500 | $7,000 |
| IRA “Catch-Up” | $1,000 | $1,000 |
| SIMPLE 401(k) | $15,500 | $16,000 |
| SIMPLE “Catch-Up” | $3,500 | $3,500 |
| Social Security Wage Base | $160,200 | $168,600 |
| Health Flexible Spending Arrangement | $3,050 | $3,200 |
| Carryover Amount for Health FSAs | $610 | $640 |
| Daycare | $5,000 | $5,000 |
| HSA “Catch-Up” | $1,000 | $1,000 |
| HSA Single Contribution | $3,850 | $4,150 |
| HSA Family Contribution | $7,750 | $8,300 |
| QSEHRA Self-Only Coverage | $5,850 | $6,150 |
| QSEHRA Family Coverage | $11,800 | $12,450 |
| EBHRA | $1,950 | $2,100 |
Mileage Reimbursement (flex) $0.22/mile as of 7/1/2022
Mileage for Reimbursement for Business $0.655/mile as of 1/1/2023
Questions? Contact one of our Third Party Administrators.
