Irs 415 Limit For 2024. These regulations are effective on september 17, 2024. In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up.
Section 415 of the internal revenue code (“code”) provides for dollar limitations on benefits and contributions under qualified retirement plans. The irs limits how much employees and employers can contribute to a 401 (k) each year.