457 Contribution Limits 2024 Over 50. โ individuals age 50 and older are still able to contribute an extra $7,500 for a total of $30,500. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024.
If permitted by the 403 (b) plan, employees who are age 50 or over at the end of the calendar year can also make catch. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits.
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