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.

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

The catch-up contribution limit for employees aged 50 and over who participate in 401 (k), 403 (b), and most 457 plans, as well as the federal government's Thrift Savings Plan remains $7,500 for 2024.

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.