401k Contribution Limits 2024 Catch Up Total Tax Liability

401k Contribution Limits 2024 Catch Up Total Tax Liability. The contribution limits for individual. To incentivize adults nearing their retirement age to save additional money, the government allows those 50 and older to.

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. The 2024 contribution limit for 401 (k) plans is $23,000, up from $22,500 in 2023.