401k Limits For 2024 Over Age 50

401k Limits For 2024 Over Age 50. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401 (k), 403 (b), and 457 (b). The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.

For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. 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.