401k Limit 2024 Irs. The contribution limit for 401(k)s, 403(b)s, most 457 plans and the federal government's thrift savings plan is $23,000 for 2024, up from $22,500 in 2023. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira.
The 2023 401(k) contribution limit for employees was $22,500. Withdrawals made before 59 1/2 years may incur a 10% early withdrawal tax penalty, in addition to federal.