401k 2024 Limit Contribution Amount . The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older). For 2024, the irs limits the amount of compensation eligible for 401 (k) contributions to $345,000.
That’s an increase from the 2023 limit of $330,000. The 401 (k) 2024 employee contribution limit is $23,000, which is an increase of $500 from the previous year.
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