Irs Annual 401k Contribution Limit 2024. Irs statements and announcements section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified. Workers can contribute up to $23,000 annually to their $401(k) plans in 2024, the irs announced at the top of the month, a $500 increase from the previous limit of.
For 2024, the irs has increased the contribution limit for 401(k), 403(b), most 457 plans, and the federal government’s thrift savings plan to $23,000, up from $22,500 in 2023. This limit applies to both traditional and roth employee contributions.