457 Plan Max Contribution 2024

457 Plan Max Contribution 2024. If you are age 50 or older, you can make an additional $7,500 catch. Those with 401 (k), 403 (b), 457 plans, and similar accounts will see a $500 increase for 2024, the limit rising to $23,000.

If your goal is to contribute the standard 457 (b) maximum, you would need to contribute $884 per biweekly paycheck ($23,000 for the calendar year). Make an additional contribution—up to a grand total of $45,000 for 2023 or up to $46,000 in 2024—if you’re within three years of your normal retirement.