Elicia Tessie

401k 2024 Max Contribution Limit Irs. The maximum an employee can contribute to 401 (k), 457, and 403 (b) plans increases from $22,500 to $23,000. For individual retirement accounts, or iras—both roth and traditional types —2024 contributions will max out at $7,000, up from $6,500 in 2023.

The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits. 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.