401k 2024 Contribution Limit Irs Over 50

401k 2024 Contribution Limit Irs Over 50. 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. You can contribute a maximum of $7,000 (up from $6,500 for 2023).

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. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500.