Maximum Eligible Compensation 401k 2024

Maximum Eligible Compensation 401k 2024. Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs. Those 50 and older can contribute an additional $7,500.

Altogether, the most that can be contributed to your 401 (k) plan between both you and your employer is $69,000 in 2024, up from $66,000 in 2023. Employees age 50 and older can also direct an additional $7,500.