Annual 401k Contribution Limit 2023

Annual 401k Contribution Limit 2023. For 2025, the annual employee contribution limit for 401(k) plans is set to increase from $23,000 in 2024 to a record high of $23,500. The limit on annual contributions to an ira remains $7,000.

For 2025, the annual employee contribution limit for 401 (k) plans is set to increase from $23,000 in 2024 to a record high of $23,500. For 2023, the amount an individual can contribute to a 401 (k), 403 (b), and most 457 plans increases to $22,500, up from $20,500 in 2022.