Limit On 401k Contributions 2024 Over 50 . Benefits of the solo 401 (k) 1. If you participate in a 401 (k) retirement savings plan at work, your personal contribution limit in 2024 is $23,000.
People who are aged 50 and over can put extra money into iras each year, beyond the usual contribution limit. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023.
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401k Catch Up Contribution Limit 2024 Ailis Arluene , Employers can only use the first $345,000 of compensation to determine your 401(k).