2024 401k Limits And Matching. The 401 (k) contribution limit is $23,000. July 4, 2024 by editorial board.
Many employers offer matching contributions, giving you “free money” for retirement. Total 401 (k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.
Additionally, The Total Contribution Limit For Defined Contribution Plans Is Expected To Rise To $71,000, A.
401k 2024 contribution limit chart,.
This Represents A $500 Increase Compared To The 2023 Limit.
For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.
2024 401k Limits And Matching Images References :
And The Total Annual Contribution Amount (Employee Plus Employer Contribution) Will Increase To $69,000 From $66,000 In 2023.
Employer matches don’t count toward this limit and can be quite generous.
Simple 401 (K) Plan Contributions Max Out At $16,000 For The 2024 Tax Year.