401k Contributions 2024 Limits
401k Contributions 2024 Limits. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. Employers can only use the first $345,000 of compensation to determine your 401(k).
Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024. The 2024 limit on 401(k) contributions is $23,000, or $30,500 for people 50 and older.