What Is The 401k Catch Up Limit For 2024 Over 55

What Is The 401k Catch Up Limit For 2024 Over 55. The contribution limits for individual retirement accounts (iras). Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

In 2024, you’re able to contribute an additional $7,500 to a 401 (k) each year, so long as you’ve made your contributions by the end of the calendar year. The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions.