2024 401k Contribution Limits For Simple 401k Plan

2024 401k Contribution Limits For Simple 401k Plan. The irs announced the changes to the dollar limits on benefits and contributions under qualified. Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.

If you’re under the age of 50, you can contribute up to $22,500 to your 401 (k) plan in 2023. The additional contribution amount is $3,500 in 2023.