2024 401k Limits Contribution Increase. The irs this week announced it was raising the 401 (k) contribution limit to $23,000, up from $22,500 currently. This amount is up modestly from 2023, when the individual 401 (k).

The irs has increased the contribution limit for 401 (k) plans for 2024 so individuals can now contribute up to $23,000. According to the report, mercer envisions the irs increasing contribution limits by $500 in 2024 for not only 401 (k)s, but also 403 (b) and eligible 457 plans.