2024 Contribution Limits 457

2024 Contribution Limits 457. Those 50 and older can contribute an additional $7,500. The total overall 401 (k) contribution limit for 2024, which includes employer matching contributions and nonelective contributions, is $69,000.

The contribution limit for employees who participate in a 457 (b) plan, 403 (b) plan, or the federal government’s thrift savings plan is $23,000 in 2024 (up from $22,500 in 2023). 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.