2024 401k Limits. On nov., 1, 2023, the irs boosted annual contribution limits for 2024 for 401(k), 403(b), and most 457 plans. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.
In 2024, the contribution limit for a roth 401 (k) is $23,000, plus an additional contribution of $7,500 if you are age 50 or older. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase.