2024 401k Limits And Matching Limits

2024 401k Limits And Matching Limits. In 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023. The limits for singles are half of the limits for married filing jointly.

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. The maximum you can contribute to your 401(k) in 2024 is $23,000 if you’re under age 50, or $23,500 in 2025.