Irs 401k Annual Compensation Limit 2024 . Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024. The irs limits how much employees and employers can contribute to a 401 (k) each year.
The limit on total employer and employee contributions for 2023. 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 in 2024, a $500 increase.
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