2024 JRB Retirement Plan Contribution Limits

The IRS increased contribution limits for retirement plans such as the JRB 403(b)(9) Retirement Plan for 2024.  The changes go into effect on January 1, 2024.

For 2024, the salary reduction limit increases from $22,500 to $23,000. The Age-50 Catch-up limit - for participants who will be 50 or older by December 31, 2024 remains - $7,500 (for a total salary deferral of $30,500). The maximum annual addition that can be contributed to your JRB account increased to $69,000 ($76,500 if age 50 or older), up to 100% of compensation.

The chart below summarizes these changes:

Retirement Plan Limits


Salary Reduction Contributions



Age-50 Catch-up Contributions



Annual Additions



Annual Additions, age-50 or older



The JRB urges you to contribute as close to the maximum as you can to your JRB account. The more you contribute, the more you can reduce your current income taxes while investing in a comfortable retirement.  Can’t contribute the maximum this year? Consider increasing your contribution by 1% or 2% of your salary this year with a goal of eventually saving 20% of your annual salary.

Should you have any questions on the new limits, please contact us at 888-JRB-FREE (572-3733) or email us at staff@jrbcj.org.

November 2023