Workplace retirement plan contribution limits for 2024. The 401(k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year.
For tax year 2024 (filed by april 2025), the limit is $23,000. The basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023).
The irs limits how much employees and employers can contribute to a 401 (k) each year.
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.
These were announced by the irs on november 4, 2021.
The irs also sets limits on how much you and your employer combined can contribute to your.
