The IRS recently announced adjustments affecting the dollar limitations on 401(k) plans for tax year 2024. Since these changes impact everyone who currently sponsors (or is considering sponsoring) a 401(k) plan, the NADA is sharing a chart reflecting the changes with all members, not just those who currently sponsor a NADA Retirement plan.

Now is the time to plan any changes to your personal 401(k) contribution strategy for 2024 and to ensure that your payroll system will capture the new limits beginning in January. Helping dealers and their employees reach their financial goals is our mission. Let us help you ensure that the 401(k) plan that you sponsor is keeping up with the needs of your dealership.

The CATA in partnership with the NADA and Empower have created a unique relationship through which Empower offers flexible, competitive 401(k) plans with fiduciary support and an award-winning service model. For more information, please contact us directly or complete a request for a plan comparison. CATA dealers interested in learning more or seeking to schedule a plan comparison can do so by calling Joseph Orlando at 312-404-3232.