2024 401k Tax Limit
2024 401k Tax Limit. 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 irs has officially announced the 401k and ira contribution limits for the year 2024.
Personal contribution limits for 401 (k) plans increased in 2024 to $23,000โup $500 from $22,500 in 2023โfor people under age 50. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.