2024 401k Contribution Limits For Simple 401k 2024

2024 401k Contribution Limits For Simple 401k 2024. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older. This limit includes all elective employee salary deferrals and any contributions made to a designated roth.

Each year, the 401(k) contribution limits increase by a small amount. If you’re under the age of 50, you can contribute up to $22,500 to your 401 (k) plan in 2023.