2024 401 K Contribution Limit Catch Up

2024 401 K Contribution Limit Catch Up. The limit for overall contributions—including the employer match—is 100% of your compensation or $69,000,. Workers ages 50 and older have a higher annual 401 (k) contribution limit than their younger peers.

The 2022 contribution limit for a simple ira or 401 (k), which are retirement plans designed for small businesses with 100 or fewer employees, is $14,000 ($15,500 for 2023). The 401 (k) compensation limit is $345,000.