401 K Plan Contribution Limits 2024 Over 55

401 K Plan Contribution Limits 2024 Over 55

Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. In 2024, employees can contribute up to $23,000 in their traditional and roth 401 (k).

For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. For 2024, the employee contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.