2024 Max 401k Deduction

2024 Max 401k Deduction. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute. For 2024, the limit for 401 (k) plan contributions is $23,000, up from $22,500 last year, according to the irs.

For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.