401k 2024 Maximum Contribution Limit

401k 2024 Maximum Contribution Limit. Those 50 and older can contribute an additional $7,500. 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.

For 401(k) plans, the maximum annual contribution was raised to $22,500. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500.