401k 2024 Tax Year Limits 2024. Older workers can defer paying income tax on as much as $30,500 in a 401(k) plan in 2023. 401(k) deferrals (total traditional and roth employee contributions) $23,000.

Older workers can defer paying income tax on as much as $30,500 in a 401(k) plan in 2023. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.