Total 401k Contribution Limit 2024. Those 50 and older can contribute an additional $7,500. Individuals can contribute up to $23,000 total into their traditional or roth 401(k) plans in 2024, no matter how high their income is that year.
The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira. For 2024, the limit on employee and employer contributions is $69,000 or 100% of employee compensation, whichever is lower (up from $66,000 for 2023).
Total 401k Contribution Limit 2024 Images References :