401k 2024 Limits Irs

401k 2024 Limits Irs. The 401(k) contribution limit is $23,000.  — the total employee contribution limit to all 401 (k) and 403 (b) plans for those under 50 will be going up from $22,500 in 2023 to $23,000 in 2024 (compare that to the $2,000 it increased from 2022 to 2023).

While it may not be possible to contribute the maximum right away, increasing your contributions each year can make a significant difference. Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.