What is the 401(k) contribution limit for 2024?

Feed your brain. Fund your future. The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,500.

How much can you contribute to a retirement plan in 2024?

The limit on total employer and employee contributions for 2024 is $69,000 ($76,500 with catch-up). The limit on total employer and employee contributions for 2023 was $66,000 ($73,500 with catch-up). The IRS adjusts retirement plan contribution limits annually for inflation.

What is the limit on employer and employee contributions for 2024?

The limit on total employer and employee contributions for 2024 is $69,000. When you include the $7,500 catch-up contribution, that limit becomes $76,500. The limit on total employer and employee contributions for 2023 was $66,000 or 100% of employee compensation, whichever was less.