{"id":74176,"date":"2023-11-02T12:02:25","date_gmt":"2023-11-02T06:32:25","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?post_type=web-story&#038;p=74176"},"modified":"2023-11-02T12:02:31","modified_gmt":"2023-11-02T06:32:31","slug":"irs-announces-increase-in-retirement-contribution-limits","status":"publish","type":"web-story","link":"https:\/\/www.the-next-tech.com\/web-stories\/irs-announces-increase-in-retirement-contribution-limits\/","title":{"rendered":"IRS Announces Increase In Retirement Contribution Limits"},"content":{"rendered":"<p><html amp=\"\" lang=\"en\"><head><meta charSet=\"utf-8\"\/><meta name=\"viewport\" content=\"width=device-width,minimum-scale=1,initial-scale=1\"\/><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0.js\"><\/script><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0\/amp-story-1.0.js\" custom-element=\"amp-story\"><\/script><script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0\/amp-video-0.1.js\" 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255, 255, 1);\n                font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Oxygen-Sans, Ubuntu, Cantarell, \"Helvetica Neue\", sans-serif;;\n                font-size: calc(4 * var(--story-page-vw));\n                line-height: 1.4;\n                word-break: break-word;\n                word-wrap: break-word;\n                overflow-wrap: break-word;\n              }\n              <\/style>\n<p><meta name=\"web-stories-replace-head-start\"\/><title>IRS Announces Increase In Retirement Contribution Limits<\/title><link rel=\"canonical\" href=\"https:\/\/www.the-next-tech.com\/?post_type=web-story&amp;p=74176\"\/><meta name=\"web-stories-replace-head-end\"\/><\/head><body><amp-story standalone=\"\" publisher=\"The Next Tech\" publisher-logo-src=\"https:\/\/s3.amazonaws.com\/static.the-next-tech.com\/wp-content\/uploads\/2022\/07\/22163006\/tnt_logo.png\" title=\"IRS Announces Increase In Retirement Contribution Limits\" 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class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-2.18447%;top:44.82201%;width:201.21359%;height:64.56311%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-4f1c38bb-af4f-4eb4-a552-b0c7ee2d1277\">\n<div style=\"position:absolute;width:100%;height:100.24874%;left:0%;top:-0.12437%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/c\/c9\/The_Internal_Revenue_Service_Building%2C_located_in_the_center_of_the_Federal_Triangle_complex_in_Washington%2C_D.C_LCCN2013634106.tif\/lossy-page1-1200px-The_Internal_Revenue_Service_Building%2C_located_in_the_center_of_the_Federal_Triangle_complex_in_Washington%2C_D.C_LCCN2013634106.tif.jpg\" 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style=\"font-weight: 700; color: #ffd39e\">IRS Announces New Retirement Contribution Limit<\/span><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"680fd9a2-2e55-4d9b-bf7b-9783c8c072c0\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-83110ab1-9395-4e39-a2d0-d5fe67c90873\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-741e4c61-8249-495a-a3df-4908a536bb26\",\"keyframes\":{\"transform\":[\"scale(0.3333333333333333)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-animation 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style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-f3c56917-af05-4d26-a8b9-b4295effb4e2\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:11.40777%;top:49.83819%;width:77.18447%;height:47.24919%;opacity:1\">\n<div id=\"anim-83110ab1-9395-4e39-a2d0-d5fe67c90873\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-741e4c61-8249-495a-a3df-4908a536bb26\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.3333333333333333)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-f1482ba9-4732-4d0a-9b19-f000e0f50f59\">\n<div style=\"position:absolute;width:100%;height:100.05566%;left:0%;top:-0.02783%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/7\/7b\/Logo_of_the_Internal_Revenue_Service.svg\/640px-Logo_of_the_Internal_Revenue_Service.svg.png\" alt=\"640px-Logo_of_the_Internal_Revenue_Service.svg.png\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:19.7411%;width:76.21359%;height:19.25566%;opacity:1\">\n<div id=\"anim-7b3bb937-d842-4d75-a2b9-cd2fbe195f45\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-05f9155c-2407-4d35-9a8f-77761775c705\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -250.60694%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6369426751592357% 0.6369426751592357% 0.6369426751592357% 0.6369426751592357% \/ 1.680672268907563% 1.680672268907563% 1.680672268907563% 1.680672268907563%\" id=\"el-22f7c533-8ed1-46ee-b493-c46680e21fa3\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.08957006369426752% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.323625em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #a4133c\">For 2024, the IRS raised 401(k) contribution limits, enabling employees to defer $23,000 into workplace plans, a rise from $22,500 in 2023.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"5551fd99-6f66-47da-8d10-01266dba7585\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-f16b053d-d7b9-457a-98d8-acd7dca54e34\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":300,\"duration\":2000,\"easing\":\"cubic-bezier(0.4, 0.4, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script 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style=\"position:absolute;pointer-events:none;left:12.13592%;top:3.8835%;width:76.21359%;height:23.13916%;opacity:1\">\n<div id=\"anim-ebad0085-b8cb-443a-a84f-848abdd9ac40\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-cb51093d-7e32-4749-9b76-f47fbac24e99\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -156.79878%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6369426751592357% 0.6369426751592357% 0.6369426751592357% 0.6369426751592357% \/ 1.3986013986013985% 1.3986013986013985% 1.3986013986013985% 1.3986013986013985%\" id=\"el-3a97a0ab-035c-4a1c-afdc-d105ccc590d3\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.08957006369426752% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.323625em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #c8fdff\">In 2024, single taxpayers participating in a workplace retirement plan will see the phase-out range extended between $77,000 to $87,000, up from $73,000 to $83,000 in 2023.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"76e4f966-5078-4d3f-acbf-5320569b3b2a\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-b37c91ec-e429-4db6-809a-f94cbb933f6f\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":200,\"duration\":1400,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-71985953-cc22-4ef1-a535-b9cfe6fd0252\",\"keyframes\":{\"transform\":[\"translate3d(0px, 179.17638%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":200,\"duration\":1400,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-18e022b8-b005-4ff2-a474-15f7b429914b\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-2aebfbeb-1796-4386-be2e-c738f548d46a\",\"keyframes\":{\"transform\":[\"translate3d(0px, -99.58559%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#fef9ef\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-d1c645aa-1f12-411e-bd40-3f3f4a414c1e\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:12.13592%;top:67.79935%;width:76.21359%;height:23.13916%;opacity:1\">\n<div id=\"anim-b37c91ec-e429-4db6-809a-f94cbb933f6f\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-71985953-cc22-4ef1-a535-b9cfe6fd0252\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, 179.17638%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" id=\"el-105cc38e-f2b8-455f-b6b2-80fcdabefaf1\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:0.5473726114649681% 0;font-family:&quot;Roboto&quot;,sans-serif;font-size:0.323625em;line-height:1;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #3a566e\">In 2024, for married couples filing jointly, when the spouse contributing to an IRA is covered by a workplace retirement plan, the phase-out range expands between $123,000 to $143,000, compared to $116,000 to $136,000 in 2023.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:-26.45631%;top:-9.54693%;width:155.82524%;height:69.41748%;opacity:1\">\n<div id=\"anim-18e022b8-b005-4ff2-a474-15f7b429914b\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-2aebfbeb-1796-4386-be2e-c738f548d46a\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -99.58559%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-38c69ae6-72db-4144-bae3-adcf3dbbfb48\">\n<div style=\"position:absolute;width:100.12482%;height:100%;left:-0.06241%;top:0%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=7360&amp;h=4912&amp;fit=max\" alt=\"person holding pencil near laptop computer\" srcSet=\"https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=7360&amp;h=4912&amp;fit=max 7360w,https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=5888&amp;h=3930&amp;fit=max 5888w,https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=4416&amp;h=2947&amp;fit=max 4416w,https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=2944&amp;h=1965&amp;fit=max 2944w,https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=1472&amp;h=982&amp;fit=max 1472w,https:\/\/images.unsplash.com\/photo-1454165804606-c3d57bc86b40?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHw1fHxyZXRpcmVtZW50JTIwYWNjb3VudHxlbnwwfHx8fDE2OTg5MDI4OTV8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=340&amp;h=227&amp;fit=max 340w\" sizes=\"(min-width: 1024px) 70vh, 156vw\" disable-inline-width=\"true\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"b92a127b-4f47-405d-881e-544c930aff24\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-3089bafc-d132-4de4-927a-399e742261c7\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-9bff9042-4ae6-4570-8e54-264466497473\",\"keyframes\":{\"transform\":[\"translate3d(0px, -99.83166%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-7236aa2b-a964-4f70-b899-11966decd0ba\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-6cc1befe-23e0-41d2-aca1-100d6b33e1ce\",\"keyframes\":{\"transform\":[\"translate3d(-115.92356%, 0px, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#030506\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-942b4304-d749-49a2-8de1-af40d8f04a2c\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:-35.92233%;top:-9.38511%;width:168.20388%;height:74.75728%;opacity:1\">\n<div id=\"anim-3089bafc-d132-4de4-927a-399e742261c7\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-9bff9042-4ae6-4570-8e54-264466497473\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -99.83166%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-094bf1f6-ad43-4693-93b4-dbb8272d5a87\">\n<div style=\"position:absolute;width:100%;height:100.0097%;left:0%;top:-0.00485%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=5152&amp;h=3435&amp;fit=max\" alt=\"silhouette of two person sitting on chair near tree\" srcSet=\"https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=5152&amp;h=3435&amp;fit=max 5152w,https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=4121&amp;h=2748&amp;fit=max 4121w,https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=3091&amp;h=2061&amp;fit=max 3091w,https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=2060&amp;h=1373&amp;fit=max 2060w,https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=1030&amp;h=687&amp;fit=max 1030w,https:\/\/images.unsplash.com\/photo-1473679408190-0693dd22fe6a?ixid=M3wxMzcxOTN8MHwxfHNlYXJjaHwzfHxyZXRpcmVtZW50JTIwcGxhbnxlbnwwfHx8fDE2OTg5MDE3OTd8MA&amp;ixlib=rb-4.0.3&amp;fm=jpg&amp;w=340&amp;h=227&amp;fit=max 340w\" sizes=\"(min-width: 1024px) 76vh, 168vw\" disable-inline-width=\"true\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:12.13592%;top:67.47573%;width:76.21359%;height:27.02265%;opacity:1\">\n<div id=\"anim-7236aa2b-a964-4f70-b899-11966decd0ba\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-6cc1befe-23e0-41d2-aca1-100d6b33e1ce\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-115.92356%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6369426751592357% 0.6369426751592357% 0.6369426751592357% 0.6369426751592357% \/ 1.1976047904191618% 1.1976047904191618% 1.1976047904191618% 1.1976047904191618%\" id=\"el-a3f229b7-87f7-4209-a0b9-1bc7a7e35c1f\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.08957006369426752% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.323625em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #faeecc\">In 2024, for an IRA contributor without workplace retirement plan coverage, married to a covered spouse, the phase-out range expands b\/w $230,000 to $240,000, compared to $218,000 to $228,000 in 2023.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"65ba1887-95da-4703-b58b-52ac2c6024f1\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-61961917-a758-4457-801d-977977d1a184\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-0ba71e26-0b06-4258-bce3-7f1f4b2a7fc0\",\"keyframes\":{\"transform\":[\"scale(0.3333333333333333)\",\"scale(1)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(.3,0,.55,1)\",\"fill\":\"forwards\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-8ae8782c-a349-44cd-88a1-171803e281ef\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-2f9483d8-433c-4961-b6bb-309606315a5d\",\"keyframes\":{\"transform\":[\"translate3d(0px, -181.69935%, 0)\",\"translate3d(0px, 0px, 0)\"]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\" style=\"background-color:#fff\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:0;top:-9.25926%;width:100%;height:118.51852%;opacity:1\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-d0fff75a-b824-4d29-8ed8-07eebcadbad4\">\n<div class=\"fill\" style=\"will-change:transform\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><amp-story-grid-layer template=\"vertical\" aspect-ratio=\"412:618\" class=\"grid-layer\"><\/p>\n<div class=\"page-fullbleed-area\">\n<div class=\"page-safe-area\">\n<div style=\"position:absolute;pointer-events:none;left:21.84466%;top:39.32039%;width:56.06796%;height:60.5178%;opacity:1\">\n<div id=\"anim-61961917-a758-4457-801d-977977d1a184\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-0ba71e26-0b06-4258-bce3-7f1f4b2a7fc0\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:scale(0.3333333333333333)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-7f54f628-5753-43de-b180-0dc866b0565b\">\n<div style=\"position:absolute;width:100.13387%;height:100%;left:-0.06694%;top:0%\" data-leaf-element=\"true\"><amp-video id=\"el-7f54f628-5753-43de-b180-0dc866b0565b-media\" autoplay=\"autoplay\" loop=\"loop\" noaudio=\"noaudio\" poster=\"https:\/\/media.tenor.com\/rver5T-MxaYAAAAe\/pantic-aba.png\" layout=\"fill\" alt=\"Pantic Aba GIF\"><source type=\"video\/mp4\" src=\"https:\/\/media.tenor.com\/rver5T-MxaYAAAPo\/pantic-aba.mp4\"\/><\/amp-video><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:12.13592%;top:6.47249%;width:75.24272%;height:19.25566%;opacity:1\">\n<div id=\"anim-8ae8782c-a349-44cd-88a1-171803e281ef\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-2f9483d8-433c-4961-b6bb-309606315a5d\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -181.69935%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6451612903225806% 0.6451612903225806% 0.6451612903225806% 0.6451612903225806% \/ 1.680672268907563% 1.680672268907563% 1.680672268907563% 1.680672268907563%\" id=\"el-ef39383c-3b81-4616-9a9b-43a6f3bf7645\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.0907258064516129% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.323625em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #415b09\">If a married individual, filing separately, is covered by a workplace retirement plan, the phase-out range for 2024 remains between $0 and $10,000.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"095e842f-1855-4b1c-91db-7299bae4be23\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-33f2616b-6199-4784-8701-4b5703c8949d\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 1)\",\"fill\":\"both\"}]<\/script><\/amp-story-animation><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script 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id=\"anim-33f2616b-6199-4784-8701-4b5703c8949d\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-c65b8a7a-c242-4c9d-af23-3a973ffdcab7\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(0px, -99.79204%, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-45ce1d38-531a-4148-86e2-8fcb60683e4f\">\n<div style=\"position:absolute;width:100%;height:100.19956%;left:0%;top:-0.09978%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/i.ytimg.com\/vi\/Rn53VrZ_Wto\/hq720.jpg?sqp=-oaymwE7CK4FEIIDSFryq4qpAy0IARUAAAAAGAElAADIQj0AgKJD8AEB-AH-CYAC0AWKAgwIABABGFEgYShlMA8=&amp;rs=AOn4CLAydI8A9Fig87wR0my_nOcdvtfpBw\" 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style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.09315851735015761% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.339806em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #64000c\">If neither you nor your spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.<\/span><\/span><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><amp-story-page id=\"d2fb7d53-2935-46d9-80b3-cc8e6b96ebf8\" auto-advance-after=\"14s\"><amp-story-animation layout=\"nodisplay\" trigger=\"visibility\"><script type=\"application\/json\">[{\"selector\":\"#anim-6ee2d4d4-f83a-4e1a-bd85-7a4fb45067fc\",\"keyframes\":{\"opacity\":[0,1]},\"delay\":0,\"duration\":1500,\"easing\":\"cubic-bezier(0.2, 0.6, 0.0, 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style=\"position:absolute;pointer-events:none;left:-4.12621%;top:63.59223%;width:108.00971%;height:36.24595%;opacity:1\">\n<div id=\"anim-6ee2d4d4-f83a-4e1a-bd85-7a4fb45067fc\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-2dc01aa0-fdab-442d-884c-6438042f22c0\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(-96.17978%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0\" class=\"mask\" id=\"el-698b5359-1217-46bf-8b1f-93b4d93597e3\">\n<div style=\"position:absolute;width:100%;height:100.12501%;left:0%;top:-0.06251%\" data-leaf-element=\"true\"><amp-img layout=\"fill\" src=\"https:\/\/www.cerebraltaxadvisors.com\/wp-content\/uploads\/2019\/09\/lb-roth-ira.jpg\" alt=\"lb-roth-ira.jpg\"><\/amp-img><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div style=\"position:absolute;pointer-events:none;left:11.8932%;top:18.93204%;width:75.97087%;height:25.56634%;opacity:1\">\n<div id=\"anim-ac0e9935-1f9a-47f4-8ab4-2dfc10cb0d9c\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:0;--initial-transform:none\">\n<div id=\"anim-04ff3b6c-ac14-406f-bca8-7e44a15667e3\" class=\"animation-wrapper\" style=\"width:100%;height:100%;display:block;position:absolute;top:0;left:0;--initial-opacity:1;--initial-transform:translate3d(115.97445%, 0px, 0)\">\n<div style=\"pointer-events:initial;width:100%;height:100%;display:block;position:absolute;top:0;left:0;z-index:0;border-radius:0.6389776357827476% 0.6389776357827476% 0.6389776357827476% 0.6389776357827476% \/ 1.2658227848101267% 1.2658227848101267% 1.2658227848101267% 1.2658227848101267%\" id=\"el-4c85a3ca-07bb-4da0-8ad7-6a1f7ad5f307\">\n<p class=\"fill text-wrapper\" style=\"white-space:pre-line;overflow-wrap:break-word;word-break:break-word;margin:-0.08536341853035155% 0;font-family:&quot;Roboto&quot;,&quot;Helvetica Neue&quot;,&quot;Helvetica&quot;,sans-serif;font-size:0.307443em;line-height:1.2;text-align:center;padding:0;color:#000000\"><span><span style=\"font-weight: 700; color: #de554f\">In 2024, more Americans may become eligible for Roth IRA contributions, as the adjusted gross income phaseout range increases b\/w $146,000-$161,000 for singles and heads of households, up from $138,000-$153,000 in 2023.<\/span><\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/amp-story-grid-layer><\/amp-story-page><\/amp-story><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IRS has revealed updated 2024 contribution limits for investors in 401(k) plans, individual retirement accounts, and other retirement accounts.<\/p>\n","protected":false},"author":152,"featured_media":74178,"template":"","meta":{"web_stories_publisher_logo":59216,"web_stories_poster":[],"web_stories_products":[],"footnotes":""},"web_story_category":[],"web_story_tag":[38877,38873,38878,38851,38874,38857,38825,38860,38861,38853,38854,38880,38881,38846,38872,23858,38858,20074,36936,37042,37063,38831,38832,38833,38868,38869,38840,37072,37074,37099,38863,38855,37067,38862,37029,38828,37066,38856,38827,37033,38837,38875,38876,38884,38882,38866,38834,38830,37065,38879,38839,38852,38859,38848,38849,38847,38829,38826,38841,38864,38865,38835,38870,38871,38842,38843,38845,38883,38844,38836,38867,38850,38838],"class_list":["post-74176","web-story","type-web-story","status-publish","has-post-thumbnail","hentry"],"story_data":{"version":46,"pages":[{"elements":[{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"x":1,"y":1,"width":1,"height":1,"mask":{"type":"rectangle"},"isBackground":true,"isDefaultBackground":true,"type":"shape","id":"414523bb-5fe2-4fb0-b882-0a5a76cf10ab"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":false,"scale":100,"focalX":50,"focalY":50,"resource":{"type":"image","mimeType":"image\/jpeg","width":1200,"height":579,"sizes":[],"isPlaceholder":false,"isExternal":true,"needsProxy":false,"src":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/c\/c9\/The_Internal_Revenue_Service_Building%2C_located_in_the_center_of_the_Federal_Triangle_complex_in_Washington%2C_D.C_LCCN2013634106.tif\/lossy-page1-1200px-The_Internal_Revenue_Service_Building%2C_located_in_the_center_of_the_Federal_Triangle_complex_in_Washington%2C_D.C_LCCN2013634106.tif.jpg","id":"15cefad1-6791-47ce-85f5-81a22f51c741","alt":"lossy-page1-1200px-The_Internal_Revenue_Service_Building%2C_located_in_the_center_of_the_Federal_Triangle_complex_in_Washington%2C_D.C_LCCN2013634106.tif.jpg","baseColor":"#3e5269"},"type":"image","x":-9,"y":277,"width":829,"height":399,"mask":{"type":"rectangle","showInLibrary":true,"name":"Rectangle","path":"M 0,0 1,0 1,1 0,1 0,0 Z","ratio":1,"supportsBorder":true},"id":"4f1c38bb-af4f-4eb4-a552-b0c7ee2d1277"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"backgroundTextMode":"NONE","font":{"family":"Roboto","weights":[100,300,400,500,700,900],"styles":["italic","regular"],"variants":[[0,100],[1,100],[0,300],[1,300],[0,400],[1,400],[0,500],[1,500],[0,700],[1,700],[0,900],[1,900]],"fallbacks":["Helvetica Neue","Helvetica","sans-serif"],"service":"fonts.google.com","metrics":{"upm":2048,"asc":1900,"des":-500,"tAsc":1536,"tDes":-512,"tLGap":102,"wAsc":1946,"wDes":512,"xH":1082,"capH":1456,"yMin":-555,"yMax":2163,"hAsc":1900,"hDes":-500,"lGap":0}},"fontSize":30,"backgroundColor":{"color":{"r":196,"g":196,"b":196}},"lineHeight":1.2,"textAlign":"center","padding":{"locked":true,"hasHiddenPadding":false,"horizontal":0,"vertical":0},"type":"text","content":"<span style=\"font-weight: 700; color: #ffd39e\">IRS Announces New Retirement Contribution Limit<\/span>","borderRadius":{"locked":true,"topLeft":2,"topRight":2,"bottomRight":2,"bottomLeft":2},"x":49,"y":90,"width":314,"height":107,"id":"4ef0a19e-09f6-46df-914d-c25389705a5b"}],"backgroundColor":{"color":{"r":21,"g":59,"b":97}},"type":"page","id":"21d36dbe-4fb2-4338-8771-457622963a22"},{"elements":[{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":true,"x":1,"y":1,"width":1,"height":1,"mask":{"type":"rectangle"},"isBackground":true,"isDefaultBackground":true,"type":"shape","id":"f3c56917-af05-4d26-a8b9-b4295effb4e2"},{"opacity":100,"flip":{"vertical":false,"horizontal":false},"rotationAngle":0,"lockAspectRatio":false,"scale":100,"focalX":50,"focalY":50,"resource":{"type":"image","mimeType":"image\/png","width":640,"height":588,"sizes":[],"isPlaceholder":false,"isExternal":true,"needsProxy":false,"src":"https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/7\/7b\/Logo_of_the_Internal_Revenue_Service.svg\/640px-Logo_of_the_Internal_Revenue_Service.svg.png","id":"34226a27-28b4-430a-acec-77c6f61fb20a","alt":"640px-Logo_of_the_Internal_Revenue_Service.svg.png","baseColor":"#040404"},"type":"image","x":47,"y":308,"width":318,"height":292,"mask":{"type":"rectangle","showInLibrary":true,"name":"Rectangle","path":"M 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