Irs 2024 Max 401k Contribution Limits

Irs 2024 Max 401k Contribution Limits. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government's thrift savings plan is $23,000 for 2024, up from $22,500 in 2023. For 2024, employees can defer up to $23,000 into 401 (k) plans, up from $22,500 in 2023, with an extra $7,500 for workers age 50 and older.

For those with a 401 (k), 403 (b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. In 2024, employees and employers can contribute a combined maximum of $69,000 (or $76,500 if the employee is age 50 or older).