401k Contribution Limits 2024 Catch Up Total Income

401k Contribution Limits 2024 Catch Up Total Income. That’s a $500 jump from the $23,000 limit in 2024. For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000.

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. Altogether, the most that can be contributed to your 401 (k) plan between both you and your employer is $70,000 in 2025, up from $69,000 in 2024.