IRS Announces 401(k) Limit Changes for 2024

November 15, 2023

Highlights of changes for 2024

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increases $500 up to $23,000.

The catch-up contribution limit for employees aged 50 and over who participate in these plans remains unchanged at $7,500 (as such, someone age 50+ can contribution up to $30,500 in 2024).

For a full listing of the IRS limits, click here.

Click here for more information (link to IRS website) »