How much money can a 401(k) employee make in 2024?

About a fifth of 401 (k) plans allow employees to make these kinds of contributions, which are still subject to the 2024 maximum of $69,000, or $76,500 if you 50 or older. We are committed to protecting your experience & information. No spam calls, Zoe will only contact you to assist with your engagement.

What is the cost of living limit for 2024?

For 2024, this limitation is increased to $53,000, up from $50,000. Details on these and other retirement-related cost-of-living adjustments for 2024 are in Notice 2023-75 PDF, available on IRS.gov.

What is the 401(k) contribution limit for 2024?

Feed your brain. Fund your future. The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. If you're age 50 or older, you're eligible for an additional $7,500 in catch-up contributions, raising your employee contribution limit to $30,500.