2024 401k Contribution Limit

2024 401k Contribution Limit. This marks a $500 increase from the 2023 limit of $22,500. 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.

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. Set by the internal revenue service (irs), this limit undergoes periodic adjustments to account for inflation and changes in the cost of living.