2024 401k Contribution. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

Some retirement plans have lower limits, so check the details of your allowable. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government’s thrift savings plan is $23,000 for 2024, up from $22,500 in.