401k Max 2024 Contributions Over 50

401k Max 2024 Contributions Over 50. This limit includes all elective employee salary deferrals and any contributions made to a designated roth account. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

Employers must calculate their contributions based on compensation of $345,000 or less and are subject to a limit of $69,000 ($76,500 if you are 50 or older) minus your contributions. The ira catch‑up contribution limit for individuals aged 50 and older remains at $7,500 for 2024.