2024 401k Limits Inflation Adjustment

2024 401k Limits Inflation Adjustment. 401 (k) plans will increase to $23,000 in 2024, up from $22,500 in 2023. The 401(k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.

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. (for 2023, it’s $22,500 with a.