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These are the are the IRS approved annual maximum amounts you can contribute into your Principal Retirement account.
Any employer contributions to your 401(k). Any matching funds that Reliant contributes directly from the account you are responsible for should not be included when determining the maximum amount you can contribute.
| IRS 403(b)/401(k) / Pension Plan Limits | 2024 Limit | 2023 Limit | 2022 Limit | 2020/2021 Limit |
|---|---|---|---|---|
| 401 403(kb)/403401(bk) Employee Deferral Limit | $23,000 | $22,500 | $20,500 | $19,500 |
401 403(kb)/403401(bk) Catch-up Contribution *available in excess of the employee deferral limit, for people age 50 and older | $7,500 | $7,500 | $6,500 | $6,500 |
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