401(k), 403(b), IRA, FSA, and HSA Contribution Limits: What to Know in 2024

Retirement planning and healthcare savings are important for everyone, regardless of age or income level. One of the best ways to save for retirement and healthcare is to participate in employer-sponsored retirement plans and health savings accounts (HSAs).


The Internal Revenue Service (IRS) sets annual contribution limits for these plans. These limits are designed to help people save enough money to maintain a comfortable standard of living in retirement and to pay for medical expenses.

For 2024, the IRS has announced the following contribution limits:

Retirement Plans

PlanAge Under 50Age 50 or Older

Health Savings Accounts


Catch-Up Contributions

People who are age 50 or older are allowed to make additional catch-up contributions to their retirement plans. These contributions can help people who have saved less than they need for retirement to catch up.

For 2024, the catch-up contribution limits are:


| Plan | Catch-Up Contribution Limit |


| 401(k) | $7,500 |

| 403(b) | $7,500 |


| 457(b) | $7,500 |

| IRA | $1,000 |

How to Maximize Your Contributions

If you are eligible to participate in a retirement plan or HSA, it is important to make the most of your contributions. Here are a few tips:

  • Start early. The earlier you start saving for retirement, the more time your money has to grow.
  • Increase your contributions each year. As your income increases, try to increase your contributions to your retirement plan and HSA.
  • Take advantage of employer matching. If your employer offers to match your retirement plan contributions, be sure to contribute enough to take full advantage of the match.
  • Consider catch-up contributions. If you are age 50 or older, consider making catch-up contributions to your retirement plans.


The 2024 contribution limits for retirement plans and HSAs provide people with an opportunity to save for retirement and healthcare expenses. By making the most of these contributions, people can achieve their financial goals and improve their financial well-being.

Additional Information

In addition to the contribution limits listed above, there are a few other things to keep in mind when saving for retirement and healthcare:

  • Investment options. When choosing investment options for your retirement plan or HSA, it is important to consider your risk tolerance and investment goals.
  • Fees. Be aware of the fees associated with your retirement plan and HSA. These fees can reduce your returns over time.
  • Rebalancing. It is important to rebalance your retirement plan and HSA portfolio regularly to ensure that it remains aligned with your investment goals and risk tolerance.

You can learn more about retirement planning and HSAs from the IRS website and other financial resources.