Irs 457 Contribution Limits 2024

Irs 457 Contribution Limits 2024. That’s an increase of $500 over 2023. The limit on elective deferrals under 401(k), 403(b), and eligible 457(b) plans increased to $23,000.

There are limits to how much employers and employees can contribute to a plan (or ira) each year. The maximum amount a person can contribute to a section 457 deferred compensation plan is set each year by the irs after taking inflation into account.