2024 401k Contribution Limit 50

2024 401k Contribution Limit 50. Workplace retirement plan contribution limits for 2024. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from.

Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $8,000. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.