Irs 401k Limits 2024 Over 50. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. All new limits will go into effect jan.
Is it ever ok to dip into your 401(k). The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021.