457 Max Contribution 2024 Catch Up Contribution Limit. The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021. Those with 401(k), 403(b), 457 plans, and similar accounts will see a $500 increase for 2024, the limit rising to $23,000.
The maximum amount you can contribute to a 457 retirement plan in 2024 is $23,000, including any employer contributions. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024.