401k Limits 2024 Over 50 Catch Up

401k Limits 2024 Over 50 Catch Up. Next year, employees aged 60 to 63 will benefit from an even. The irs announced today it will increase 401(k) contribution limits to $23,500 (from $23,000 in 2024), the same increase as last year, while limits for employees over 50 remains.

The 401(k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions. Here’s what investors need to know.