2024 40k Contribution Limit. Ages 60 to 63 will get a new, supersize limit for their 401(k) contributions and can save up to $34,750 for retirement. The annual limit on contributions will increase to $23,000 (up from $22,500) for 401(k), 403(b) and 457 plans, as well as for salary reduction.
Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov. The standard 2024 maximum 401k contribution limit for employees is $23,000 (+$500 versus 2023).
