The Internal Revenue Service has released the 2024 cost-of-living adjustments (COLA) applicable to pension plan contribution limits. In addition to impacting Social Security beneficiaries, retirement contributions and pension plan benefits are required by law to be adjusted annually for COLA increases. The tables below detail new annual limits and contribution amounts.1
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1. Source: https://www.irs.gov/retirement-plans/cola-increases-for-dollar-limitations-on-benefits-and-contributions. Accessed 04/03/2024.
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