Irs 401k Limits 2024 Total. For employer sponsored plans including 401 (k), 403 (b) and 457 retirement plans—as well as thrift savings plans, a type of account. If you're 50 or older, the limit is $8,000.

Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans. The 2024 401 (k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022 limit of $20,500.