Irs 457 Plan Limits 2024. The irs has revised the contribution limits for 401(k), 403(b), and 457(b) plans in 2024. Effective january 1, 2024, the limitation on the annual benefit under a defined benefit plan under section 415(b)(1)(a) of the code is.

In 2024, employees may contribute up to $23,000 into workplace 401(k), 403(b) and certain 457 plans, a $500 increase from the prior year. The limit on elective deferrals under 401(k), 403(b), and eligible 457(b) plans increased to $23,000.