401 K Plan Contribution Limits 2024

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401 K Plan Contribution Limits 2024. The 2024 401 (k) contribution limit is $23,000, a $500 increase from 2023’s limit. 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.


401 K Plan Contribution Limits 2024

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). 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.

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