401k Limits 2024 Over 50

401k Limits 2024 Over 50. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $8,000. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older).

For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.