401k Contribution Limit 2024 Over 50

401k Contribution Limit 2024 Over 50. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023. 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.

The 401(k) contribution limits for 2023 sit at $22,500 for retirement savers under 50 and $30,000 for those 50 and over. In 2023, the limits were $66,000, or $73,500 for people 50 and older.