2024 Limits On 401k Contributions For Age 50

2024 Limits On 401k Contributions For Age 50. The 401(k) contribution limits for 2023 sit at $22,500 for retirement savers under 50 and $30,000 for those 50 and over. The irs revisits these numbers annually and, if necessary, adjusts them for inflation.


2024 Limits On 401k Contributions For Age 50

In 2023, the limits were $66,000, or $73,500 for people 50 and older. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000.

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