2024 401k Maximum Contribution Limits. This amount is up modestly from 2023, when the individual 401 (k) contribution limit. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401 (k), 403 (b), and 457 (b) plans, as well as income limits for ira contribution deductibility.
That is $500 more than you were allowed to contribute in 2023. The total maximum allowable contribution to a defined contribution plan (including both employee and employer contributions) is expected to rise by $2,000.