401k Contribution Limits 2024 Employer Over 50

401k Contribution Limits 2024 Employer Over 50. The irs limits how much employees and employers can contribute to a 401 (k) each year. For 2024, the maximum 401(k) contribution limit is $23,000 for individuals under the age of 50.

Employees can defer $23,500 into workplace plans, a. Typically, a 401 (k) plan may offer an employer match of 50 cents on the dollar, up to 6 percent of a worker’s salary, which would be the equivalent of 3 percent of compensation.