The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. The total contribution limit for 401(a) defined contribution plans under section 415(c)(1)(a) increased from $66,000 to $69,000 for 2024.
You can contribute to more than one. The aggregate annual limit is 100% of your compensation or $66,000 for taxpayers over 50 ($73,500 if you’re older than that).
The Irs Also Sets Limits On How Much You And Your Employer Combined Can Contribute To Your 401.
The total maximum that can be tucked away in your 401(k) plan, including employer contributions and allocations of forfeiture, is $76,500 in 2024, or $7,500 more than the $69,000 maximum for.
The 401 (K) Contribution Limit Is $23,000.
This includes both employee contributions and employer contributions combined.
Images References :
According To A Statement Issued By The Irs, 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.
These were announced by the irs on november 4, 2021.
The Aggregate Annual Limit Is 100% Of Your Compensation Or $66,000 For Taxpayers Over 50 ($73,500 If You're Older Than That).
The total amount of employee and employee contributions to any 401(k) plan is $69,000 in 2024.