Maximum Deferred Compensation 2024. As part of a 457 plan, participants can contribute more than the annual limit once they reach a certain age. In 2024, eligible employees who elect to make deferrals to both a 403(b) and 457(b) plan will generally be able to contribute up to $23,000 in deferrals to their 403(b).

The table below shows the allowable contribution amounts and dollar limits for 2024 and 2023. The internal revenue service (irs) has announced the dollar maximums and limits for qualified pension plans for 2024.