401k Contributions 2024 Limits Over 50. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase. This limit includes all elective employee salary deferrals and any contributions made to a designated roth.
The 401(k) contribution limits for 2023 sit at $22,500 for retirement savers under 50 and $30,000 for those 50 and over. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal governmentโs thrift savings plan can contribute up to.
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