401k Limits For 2024 Irs

401k Limits For 2024 Irs. 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. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.

Note there are limits on the combined total contributions you can make on an annual basis. $19,500 in 2020 and 2021 and $19,000 in 2019), plus $7,500 in 2023;