401k 2024 Contribution Limit Irs

401k 2024 Contribution Limit Irs. The contribution limit for 401 (k), 403 (b), thrift savings plans and most 457 plans will be $23,000 in 2024, rising from $22,500 in 2023. The money in a 401(k) grows through employee contributions, which are usually a percentage of each paycheck paid directly into an investment account.

The money in a 401(k) grows through employee contributions, which are usually a percentage of each paycheck paid directly into an investment account. Another benefit of a solo 401(k) is its generous contribution limit.