Irs Retirement Contribution Limits 2024. 2024 ira contribution and deduction limits effect of modified agi on deductible contributions if you are covered by a retirement plan at work. Employees will be able to sock away more money into their 401 (k)s next year.
401 (k) pretax limit increases to $23,000. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal governmentโs thrift savings plan can contribute up to $23,000 in 2024, a $500 increase from the $22,500 limit in 2023.