2024 401k Contribution. 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. It usually makes sense to contribute enough to your 401(k) account to get the maximum matching contribution from your employer.

The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira contribution deductibility. The 2024 contribution limits for 401 (k), 403 (b), and most 457 plans have been raised, increasing by $500 the amount plan participants can contribute.