Irs Limits 401k 2024

Irs Limits 401k 2024. The irs sets 401(k) contribution limits and typically increases them by $500 annually. The irs said on friday it increased the annual employee deferral limit to $23,500, from $23,000 in 2024, for workplace plans, including 401(k)s, 403(b)s, governmental 457.

You can contribute a maximum of $7,000 (same as 2024). For employer sponsored plans, including 401(k)s the 2024 contribution limits will jump to $23,000.