Max 401k Contribution Limit 2024

Max 401k Contribution Limit 2024. In 2024, 401(k) plans max out at $23,000 for workers under 50 and $30,500 for those 50 and older. The contribution limits for a traditional or roth ira increased last year but remain steady for 2025.

The 401(k) compensation limit is $345,000. 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.