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Comp and Benefits Brief
Nov. 2, 2023
2024 Employee Benefit Plan Limits Announced by IRS
The IRS has released the 2024 cost-of-living adjustments for limits on employee benefits with some adjustments to the 2024 rates including minor increases to the maximum contributions allowed under Code Section 415 for defined contribution plans (e.g. 401(k) plans), maximum compensation used in determining benefits, and the taxable wage base. An updated chart on the 2024 limits is linked here.
Nelson Mullins Executive Compensation and Employee Benefits attorneys are ready to assist with your compensation and benefits related matters in a cost-effective and responsive manner. Please contact one of our Executive Compensation and Employee Benefits partners or the Nelson Mullins attorney with whom you work.
Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 1,000 attorneys, policy advisors and professionals with 33 offices in 17 states and Washington, D.C. For more information, go to www.nelsonmullins.com.
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