2024 401k Contribution Limits Catch Up

2024 401k Contribution Limits Catch Up. The contribution limit for a designated roth 401 (k) increased $500 to $23,000 for 2024. If you are 50 or older, you can defer paying income tax on $30,000 in your 401 (k) plan.

However, your contribution cannot exceed 25% of your gross adjusted income. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.