401k 2024 Limits Increase

401k 2024 Limits Increase. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase. 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.

The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. The 401 (k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year.