2024 Max 401k Contribution Limits Catch Up 2024. Those 50 and older can contribute an additional $7,500. The 401 (k) employee contribution limit for 2024 is $23,000.
This means that your total 401(k) contribution limit for 2024 is $30,500. For both private and public sector employees the deduction limit has been raised from 10% to 14%.
What Is The 401 (K) Contribution Limit For 2024?
The 401 (k) compensation limit is $345,000.
Workers Who Contribute To A 401 (K), 403 (B), Most 457 Plans And The Federal Governmentโs Thrift Savings Plan Can Contribute Up To $23,000 In 2024, A $500 Increase From The $22,500 Limit In 2023.
Workers who contribute to a 401 (k), 403 (b), most 457 plans, and the federal government’s thrift savings plan can contribute.
2024 Max 401k Contribution Limits Catch Up 2024 Images References :
The $10,000 Limit Will Also Be Indexed For Inflation.
So, those aged 50 or over can contribute a total of $30,500 to their 401 (k) during 2024.
Specifically, Individuals Who Are At Least 50 Years Old
For 2024, the maximum you can contribute from your paycheck to a 401 (k) is $23,000.