Irs 401k Limits 2024 Catch Up

Irs 401k Limits 2024 Catch Up. Employees can invest more money into 401(k) plans in 2025, with contribution limits increasing from $23,000 in 2024 to $23,500 in 2025. $19,500 in 2020 and 2021 and $19,000 in 2019), plus $7,500 in 2023;

The irs sets the maximum that you and your employer can contribute to your 401(k) each year. In its announcement on friday, the agency increased the employee deferral limit to $23,500, up from $23,000 in 2024.