2024 Max 401k Contribution Catch Up 2024. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. 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.

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. Specifically, individuals who are at least 50 years old and earning.