Irs 401k Annual Compensation Limit 2024. 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. In general, the annual benefit for a participant under a defined benefit plan cannot exceed the lesser of:
Section 415 of the internal revenue code (code) provides for dollar limitations on benefits and contributions under qualified retirement plans. If you’re age 50 or.