Irs 401k Employee Contribution Limits 2024

Irs 401k Employee Contribution Limits 2024. The 401(k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. Total 401 (k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.


Irs 401k Employee Contribution Limits 2024

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.

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