Max 401k Contribution 2024 Over 60

Max 401k Contribution 2024 Over 60. This means that you cannot contribute more than $18,500 of your salary each year to a single retirement plan. 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.

For 2024, the limit for 401 (k) plan contributions is $23,000, up from $22,500 last year, according to the irs. The contribution limit for 401(k)s, 403(b)s, most 457 plans and the federal government’s thrift savings plan is $23,000 for 2024, up from $22,500 in 2023.