457 Contribution Limits 2024 Over 55. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024. The elective deferral limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's thrift savings plan increases from.

For 2024, the employee contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.