Nys Deferred Comp Max Contribution 2024. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024. Understanding irs contribution limits is important, especially when your goal is to contribute the maximum to your account.
The max contribution limit is the same as 401k: If you are age 50 or older any time during 2024, you can contribute an additional $7,500 to either type of plan, for a maximum of $30,500 per year (for a combined deferral maximum across both plans of up to $61,000 per year).