The U.S. IRS has announced that the 401(k) and IRA limits will be increased for 2024. --- 401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000 IR-2023-203, Nov. 1, 2023 WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. The IRS today also issued technical guidance regarding all of the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2024 in Notice 2023-75. Highlights of changes for 2024 The...