What Are The 401k Limits In 2024

What Are The 401k Limits In 2024. This limit includes all elective employee salary deferrals and any contributions. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024.

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. For 2024, the compensation limit (which is the amount of your income that’s used to figure out 401(k) contributions and matches) is limited to $345,000.