Smaller employers (no more than 25 employees):
Larger employers (more than 25 employees):
All employers:
1 The higher limits are not effective until 2024. As of the date of this email, the IRS has not published contribution limits for 2024. Typically, the IRS announces limits for the following year on www.irs.gov in late October. The Notification to Eligible Employees includes figures that illustrate what the higher limits would have been had they been in effect for 2023.
The 2024 sample disclosure documents are also emailed to plan sponsors prior to the beginning of the enrollment period.
2 Notification to Eligible Employees (4% Matching or 3% Nonelective Contributions). This document applies to plans with more than 25 employees (who received compensation of at least $5,000 in the preceding year) that will make 4% matching or 3% nonelective employer contributions.
3 Note: Includes references to the 2023 contribution limits because the 2024 limits are not available yet.
Make sure your plan contact information is up-to-date.
SIMPLE IRAs
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SIMPLE IRA Plus
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