Independent Actuaries Blog Month: November 2023

2024 Plan Year Minimum Funding Segment Interest Rates

The mandated interest rates used to calculate the minimum required contribution are defined by law. They are referred to in many ways. We will call these the minimum funding segment rates for simplicity. The minimum funding segment rates for the … Continue reading

2024 Plan Limits

The IRS has announced the new retirement plan limits for 2024. Highlights include: The compensation limit used in determining benefits and contributions for both defined benefit and defined contribution plans has increased from $330,000 to $345,000. For defined benefit plans … Continue reading