2024 401k Maximum Contribution Limits 2024

2024 401k Maximum Contribution Limits 2024. 401 (k) contribution limits in 2023 and 2024. Additional highlights for 2024 the limit on annual contributions to an ira increased to $7,000 (up from $6,500), and while the ira catch up contribution limit for individuals aged 50 and over.


2024 401k Maximum Contribution Limits 2024

The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax penalties. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.

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