401k Limits 2024 Irs. Contributions to 401 (k)s can be automatically deducted from your paycheck. The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000.

Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. 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 contribution deductibility.