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401(k) plan limits. 2023. 2024. Change. Maximum salary deferral for workers. $22,500. $23,000 +$500. Catch-up contributions for workers age 50 and older. $7,500
The IRS places contribution limits on 401 (k)s: For 2024, the contribution limit is $23,000, with an additional $7,500 allowed in catch-up contributions for workers who are age 50 or older. How ...
The 401(k) contribution limit could increase ... a jump in the current catch-up contribution limit of $7,500, a person over 50 would potentially contribute up to $30,500 to their 401(k) in 2024.
Your limit is either 100% of your compensation or $66,000, whichever is lower. The maximum employer 401 (k) contribution for 2023, along with employee contributions, was $66,000. The catch-up ...
But a 401(k) account welcomes contributions up to $23,000 for 2024, plus an additional $7,500 "catch-up" contribution for those 50 or older -- bringing that total to $30,500.
Employees who are at least 50 years old at any time during the year are now allowed additional pre-tax "catch up" contributions of up to $6,000 for 2015–2019, and $6,500 for 2020–2021. [40] [37] The limit for future "catch up" contributions may also be adjusted for inflation in increments of $500. In eligible plans, employees can elect to ...
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