2024 Max 401k Contribution Over 55

2024 Max 401k Contribution Over 55. The 401 (a) compensation limit (the amount of earned income that can be used to calculate retirement account contributions) will increase from $330,000 in 2023 to $345,000 in. This amount is up modestly from 2023, when the individual 401 (k).

Find out the irs limit on how much you and your employer can contribute to your 401(k) retirement savings account in 2023 and 2024. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase from.