Irs 401k 2024 Maximum Limit

Irs 401k 2024 Maximum Limit. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 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.


Irs 401k 2024 Maximum Limit

The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. The 401(a) compensation limit (the amount of earned income that can be used to calculate retirement account contributions) will increase from $330,000 in 2023.

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