What Is Irs 401 K Limit For 2024. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a. The internal revenue service (irs) has announced that contribution limits for 401 (k)s, 403 (b)s, most 457 plans, thrift savings.
The contribution limit for 401 (k), 403 (b), thrift savings plans and most 457 plans will be $23,000 in 2024, rising from $22,500 in 2023. The total maximum that can be tucked away in your 401 (k) plan, including employer contributions and allocations of forfeiture, is $76,500 in 2024.
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