2024 401k Limits And Catch Up Limits. If you are looking to get on track to becoming a 401(k) millionaire or achieving financial freedom, the irs has just announced the new 2024 401(k) contribution limits. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.
See the limits for traditional 401(k)s, roth 401(k)s, employer contributions, and profit sharing. Employees can contribute up to $23,500 to their 401(k) plan for 2025 vs.