2024 401k Contribution Limit Age 50 . In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.
The 401 (k) compensation limit is $345,000. Employees age 50 and older are subject to a higher contribution limit with either type of contribution.
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