Matti Shelley

401k Max 2024 Limit Over 50. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500. In 2024, employers and employees together can contribute up to $69,000, up from a limit of $66,000 in 2023.

Yes, you can contribute to both a 401(k) plan and an ira, but the total contributions between the two plans cannot exceed the annual contribution limits. If you’re 50 or older, the limit is $8,000.