401k Limit 2024 Over 50

401k Limit 2024 Over 50. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older). The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023.

For 2024, the limit on employee and employer contributions is $69,000 or 100% of employee compensation, whichever is lower (up from $66,000 for 2023). In 2024, for example, the irs limit on ira contributions is $7,000 and $8,000 for those 50 or older.