2024 401k Max Contribution

2024 401k Max Contribution. The 401(k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year. 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.

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. Washington (ap) — the irs on friday announced an increase to the amount individuals can contribute to their 401 (k) plans in.