401 K Limits 2024 Irs

401 K Limits 2024 Irs. The irs adjusts this limit every year. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.


401 K Limits 2024 Irs

As the table above illustrates, the 2024 irs limit for employee 401(k) contributions jumped up $500 from the 2023 mark of $22,500. 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.

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