401k Contribution Limits 2024 Irs

401k Contribution Limits 2024 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. This limit includes all elective employee salary deferrals and any contributions made to a designated roth.

For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.