2024 401k Salary Deferral Limit. Employees 50 and older can contribute an additional $7,500 in both 2023 and 2024. The 401 (k) contribution limit for 2024 is $23,000.
As of 2024, only 401 (k). The following limits apply to retirement plans in 2024:
Employees 50 And Older Can Contribute An Additional $7,500 In Both 2023 And 2024.
Most notably, the limitation on annual salary deferrals into a 401 (k) or 403 (b) plan will increase to $23,000, and the dollar threshold for highly compensated.
Employer Matches Don’t Count Toward This Limit.
This amount is up modestly from 2023, when the individual.
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.
Most notably, the limitation on annual salary deferrals into a 401 (k) or 403 (b) plan will increase to $23,000, and the dollar threshold for highly compensated.
The 401 (K) Contribution Limit For 2024 Is $23,000 For Employee Contributions, And $69,000 For The Combined Employee And Employer Contributions.