2024 Irs 401k Contribution Limits. The 401 (k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year. The 2024 401 (k) contribution limit is $23,000, a $500 increase from 2023’s limit.

For those with a 401 (k), 403 (b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. 2024 ira contribution and deduction limits effect of modified agi on deductible contributions if you are covered by a retirement plan at work if you’re covered by a retirement plan at work, use this table to determine if your modified agi affects the amount of your deduction.