The Internal Revenue Service (IRS) announced increased contributions limits for 457(b), 401(k), and 403(b) retirement plans for calendar year 2023.

2024 MNDCP Annual Maximum Contribution Limits

Participant Age Maximum Limit
Under Age 50 $23,000
Age 50 & Over $30,500
Catch-Up Provision $46,000

*The Catch-Up Provision permits participants within three years of normal retirement age and under certain conditions to contribute up to $46,000 in 2024 Contact Us to speak with a retirement plan specialists for complete information