Maximum 401k Contribution 2024 Over 50

Maximum 401k Contribution 2024 Over 50. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. Many like upfront tax breaks but need to think.

The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024. The 2024 maximum 401k contribution limit will be $23,000, which is a an increase of $500 over the 2023 maximum 401k contribution limit of $22,500 (which had increased a record high.