Limit On 401k Contributions 2024

Limit On 401k Contributions 2024. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older). As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.

Contributions to 401 (k)s can be automatically deducted from your. In 2024, the contribution limit for a roth 401 (k) is $23,000, plus an additional contribution of $7,500 if you are age 50 or older.