401k Contribution Limits 2024 Age 55

401k Contribution Limits 2024 Age 55. The irs limits how much employees and employers can contribute to a 401 (k) each year. In 2022, the most you can contribute to a roth 401(k) and contribute in pretax contributions to a traditional 401(k) is $20,500.

Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.