2024 401k Contribution Max Over 50

2024 401k Contribution Max Over 50. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older. In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023.

According to the report, mercer envisions the irs increasing contribution limits by $500 in 2024 for not only 401 (k)s, but also 403 (b) and eligible 457 plans. In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023.