2024 401k Contribution Limits Catch Up Over 60

2024 401k Contribution Limits Catch Up Over 60. In 2023 and 2024, this limit is $7,500. The irs announced that 401k elective contributions will increase by $500 to $23,500 for 2025.

Here’s what you need to know for 2024: The 2022 contribution limit for a simple ira or 401 (k), which are retirement plans designed for small businesses with 100 or fewer employees, is $14,000 ($15,500 for.