Maximum 401k Contribution 2024 50+

Maximum 401k Contribution 2024 50+. Employees 50 or older can contribute up to $30,500 with catch. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

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. The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions.