What Is The Maximum 401k Contribution 2024 Irs

What Is The Maximum 401k Contribution 2024 Irs. This means that employees can contribute up to $16,000 of. 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.

Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans. 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 $22,500 in.