401k Contribution Limit Increase 2024

401k Contribution Limit Increase 2024. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government's thrift savings plan is $23,000 for 2024, up from $22,500 in 2023. Learn how much you can contribute to your roth and traditional iras based on your age, income, and filing status.

For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000. This year, defined contribution plans got a historic contribution limit.