401k Contribution Limits 2024 After Tax Contribution Limits

401k Contribution Limits 2024 After Tax Contribution Limits. The new contribution limit for 401 (k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the internal revenue service said friday. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.

Older workers can defer paying income tax on as much as $30,500 in a 401(k) plan in 2023. Simple retirement plan contribution limits increased to $16,000 in 2024 (up from $15,500 in 2023).