Maximum 401k Contribution 2024 With Catch Up Payment

Maximum 401k Contribution 2024 With Catch Up Payment. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase.

That means a total of $30,500. For 2024, the maximum you can contribute from your paycheck to a 401 (k) is $23,000.