What are the 401(k) limits?

These individual employee limits are cumulative across multiple 401 (k) plans. If you leave one job in order to start a new position in calendar year 2024, your total combined contributions to plans at both employers are limited to $23,000, or $30,500 if you’re 50 or older.

What is the 2024 401(k) contribution limit?

The 2024 contribution limit for 401 (k) plans is $23,000, up from $22,500 in 2023. Those 50 and older can contribute an additional $7,500. Use our calculator to estimate your future balance.

How much can a 50 year old contribute to a 401k?

Anyone age 50 or over is eligible for an additional catch-up contribution of $7,500 for both 2024 and 2023. The limit on total employer and employee contributions for 2024 is $69,000 ($76,500 with catch-up). The limit on total employer and employee contributions for 2023 was $66,000 ($73,500 with catch-up).