401k Limit 2024 Over 50. People 50 and over can contribute an extra $7,500 to their 401 (k) plan in 2023 and 2024. This year, defined contribution plans got a historic contribution limit.
For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. For every $1 you contribute to the 401 (k), your employer will contribute another $.50.
The Total Amount Of Employee And Employee Contributions To Any 401 (K) Plan Is $69,000 In 2024.
The ira catch‑up contribution limit for individuals aged 50 and older remains at $7,500 for 2024.
This Amount Is Up Modestly From 2023, When The Individual 401.
Adults under 50 may contribute up to $23,000 this year.
This Is Up From The 2023 Limit Of $66,000.
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That Comes Out To About $1,917 Per Month.
This amount is up modestly from 2023, when the individual 401.