2024 40k Limit Catch Up

2024 40k Limit Catch Up. After rising substantially from $20,500 in 2022 to $22,500 for 2023, mercer projects the annual cap to go up just $500 in 2024. Contribution limits for a roth 401(k) are the same as for a traditional 401(k).

Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov. Employees can contribute up to $22,500, up from $22,000 in 2023.