2024 401k Contribution Limits Irs. To maximize contributions to a 401 (k) plan, employees should aim to contribute the maximum allowable amount, considering annual contribution limits set by. 401k contribution limits and limits (annual guide), plan participants can contribute up to $23,000 for 2024, which is up from $22,500 for 2023.
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.