What Is 2024 Maximum 401k Contribution Limit


What Is 2024 Maximum 401k Contribution Limit. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023โ€™s $22,500 to $23,000 for 2024. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.


What Is 2024 Maximum 401k Contribution Limit

The 401 (k) contribution limit for 2024 is $23,000. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).

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