401k 2024 Tax Year Limit Increase

401k 2024 Tax Year Limit Increase. Employees could contribute up to $22,500 to their 401(k) retirement savings plans for tax year 2023. The 401(k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year.


401k 2024 Tax Year Limit Increase

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. This amount is an increase of $500 from the 2023 401(k.

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