401k Contributions 2024 Over 50. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024. For instance, all employer contributions to a simple 401(k) are subject to the compensation cap (which is $330,000 for 2023, and $345,000 in 2024), while only.
The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.
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