2024 Max 401k Contribution With Employer. The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000. Set by the internal revenue service (irs), this limit undergoes periodic adjustments to account for inflation and changes in the cost of living.
Be sure to take advantage of your company’s matching program as well. This amount is an increase of $500 from the 2023 401 (k).