2024 401k Contribution Limit Irs. 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. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from $22,500 in 2023.
You want to stay under this limit to prevent tax issues in the future. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira contribution deductibility.
