401k Catch Up 2024 Contribution Limit Irs. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from. Contribution maximums will increase from $22,500 to $23,000 for 401 (k), 403 (b) and most 457 plans, as well as the federal government’s thrift savings plan, the irs.
For 2024, the maximum you can contribute to a simple 401 (k) is $16,000. Workers who contribute to a 401(k), 403(b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase.
