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The 401(k) contribution limit for 2024 is $23,000, and the catch-up contribution allows workers to add an additional $7,500 – for a grand total of $30,500 this year.
Individuals over 50 at the end of the calendar year can make annual 401(k) catch-up contributions up to $7,500 for 2024. With the 401(k) contribution limit at $23,000 for 2024, eligible ...
401(k) plan limits. 2024. 2025. Change. Maximum salary deferral for workers. $23,000. $23,500 +$500. Catch-up contributions for workers age 50 and older. $7,500
The IRS places contribution limits on 401(k)s: For 2024, the contribution limit is $23,000, with an additional $7,500 allowed in catch-up contributions for workers who are age 50 or older.
For 2024, the most you can put into your 401(k) is $23,000. Over-50s can make an extra $7,500 in catch-up contributions. Those limits are higher for the 2025 tax year.
The challenges with catch-up contributions. Considering the EPI research shows those between 55 and 64 tend to have around $10,000 set aside in retirement funds, super catch-up contributions could ...