401k Contribution Limit Increase 2024

401k Contribution Limit Increase 2024. The annual employee contribution limit for 401(k) retirement plans is increasing from $22,500 to $23,000 in 2024. 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.

Employees can contribute up to $23,000 to their 401 (k) plan for 2024 vs. The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the internal revenue service said friday.