Irs 401k Employee Contribution Limits 2024

Irs 401k Employee Contribution Limits 2024. For 2024, the employee contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. To maximize your retirement savings, it’s advisable to contribute as close to this limit as possible.

The irs imposes maximum contribution limits to help ensure all employees’ fair participation in 401 (k) plans. In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023.