401k 2024 Maximum Contributions. The new $23,000 limit for 2024 applies not only to 401(k) plans but also to 403(b) plans, most 457 plans and certain other plans. When you make a contribution to a traditional 401 (k), you can deduct that amount from your taxable income within that year.
Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023โs $22,500 to $23,000 for 2024. Workplace retirement plan contribution limits for 2024.
