Beginning in 2024, workers will be allowed to contribute up to $23,000 to their 401(k), an increase of $500 from this year. The increase applies to other retirement savings accounts, including the 403(b) plan, most 457 plans and the federal government’s Thrift Savings Plan.
Oh wow, THANK YOU. I don’t know what I would have done without an extra measly $500 to save each year. There shouldn’t be limits in the first place. But that must people are hitting that anyway.
401(k)s are a goddamn scam and we should be able to get company contributions put into whatever savings account we want.