2024 401k Limits Inflation Adjustment. On november 1st, the irs released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. Mercer’s forecast aligns with milliman’s most recent 2024 irs limits forecast, which also predicts that the 2024 maximum contribution for 401(k), 403(b), and 457.
Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000. The amount that individuals can contribute to sec.