401k 2024 Contribution Limit Catch Up Over 50

401k 2024 Contribution Limit Catch Up Over 50. People younger than 50 may contribute up to $22,500 in 2023 and $23,000 in 2024 to their 401(k)s. In 2024, you’re able to contribute an additional $7,500 to a 401 (k) each year, so long as you’ve made your contributions by the end of the calendar year.

Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov. 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.