2024 401k Contribution Limits Tables For 2024

2024 401k Contribution Limits Tables For 2024. Understanding the 401k contribution limits for 2024 is crucial for effective retirement planning. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k) plans.

For 2024, the maximum 401 (k) contribution limit is $23,000 for individuals under the age of 50. Starting in 2025, the 401 (k) employee deferral limit will jump to $23,500, up from $23,000 in 2024.