2024 401k Contribution Limits Chart

2024 401k Contribution Limits Chart. Going over the 401 (k) contribution limit can lead to costly penalties. The ira catch‑up contribution limit for individuals aged 50 and older remains at $7,500 for 2024.

For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.