401k Eligible Compensation Limit 2024 Limit . If you're age 50 or. For 2024, the irs limits the amount of compensation eligible for 401 (k) contributions to $345,000.
Recent legislation passed by congress includes several provisions that enhance the ability of workers to increase their retirement savings. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.
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