401k Plan Limit 2024 Age 50 Or More
401k Plan Limit 2024 Age 50 Or More. In 2024, the combined contribution limit is increasing to $69,000, up from $66,000 in 2023. The contribution limit for 401(k), 403(b), thrift savings plans and most 457 plans will be $23,000 in 2024, rising from $22,500 in 2023.
Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov. The total employee contribution limit to all 401(k) and 403(b) plans for those under 50 will be going up from $22,500 in 2023 to $23,000 in 2024 (compare that to the $2,000 it increased from 2022 to 2023).