2024 401k Limits Inflation Adjustment. 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. The irs adjusts retirement plan contribution limits annually for inflation.
2024 401k limits inflation adjustment. Employees will be able to save more money as the 2024 401 (k) contribution limits have increased.
For Example, The Amount Individuals Can Contribute To Their 401(K), 403(B), And Most 457 Plans Will Increase To $23,000 In 2024, Up $500.
Effective for plan years beginning after december 31, 2024, secure 2.0 requires that new 401 (k) plans automatically:
Employees Can Invest More Money Into 401(K) Plans In 2024, With Contribution Limits Increasing From 2023โS $22,500 To $23,000 For 2024.
The employee contribution limit for 401 (k) and similar workplace plans will jump $2,000 to $22,500 for 2023.
