402g Limit 2024

402g Limit 2024. For 2023, since the recordkeeper must distribute the excess deferral (and any earnings accrued) no later than april 15, 2024 (i.e., the individual’s tax deadline in. Irc section 402 (g) limits the amount of elective deferrals an individual can contribute to their retirement account each calendar year.

Irc section 402 (g) limits the amount of elective deferrals an individual can contribute to their retirement account each calendar year. The 401(a)(17) annual compensation limit applicable to retirement plans increased from $330,000 to $345,000.