Annual Roth 401k Contribution Limit 2024 Over 50

Annual Roth 401k Contribution Limit 2024 Over 50

Savers will be able to contribute as much as $23,000. The total maximum allowable contribution to a defined contribution plan (including both employee and employer contributions) is expected to rise by $2,000.

Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $8,000. The 401 (k) contribution limit for individuals has been increased to $23,000 for 2024.