2024 401(k) Contribution Limits Increased to $23,000: Important Retirement Savings Information
Chicago, Illinois – Planning for retirement is a priority for many individuals, and employer-sponsored 401(k) plans play a pivotal role in this endeavor. These plans offer substantial tax benefits while facilitating systematic savings for the future. Employees are able to designate a percentage of their income for automatic deductions, which are then invested in the account. This investment can be allocated among various options, typically including a range of mutual funds. The 401(k) plan, available …