2024 Contribution Limits 45705

2024 Contribution Limits 45705. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. You get a full exemption if your income is below the lower number.

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. 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.