2024 401k Contribution Limit Irs. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. The internal revenue service announced wednesday that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023.

This amount is up modestly from 2023, when the individual 401 (k) contribution. Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans.