401k Limit For 2024 Over 50. Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs. The 2024 limit on 401 (k) contributions is $23,000, or $30,500 for people 50 and older.


401k Limit For 2024 Over 50

Employers can only use the first $345,000 of compensation to determine your 401 (k). Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.

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