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2024 Irs 401k Contribution Limits Over 50
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2024 Irs 401k Contribution Limits Over 50. The annual employee contribution limit for 401(k) retirement plans is increasing from $22,500 to $23,000 in 2024. The limit on employer and employee contributions is $69,000.
The elective deferral limit for simple plans is 100% of compensation or $16,000 in 2024, $15,500 in 2023, $14,000 in 2022, and $13,500 in 2020 and 2021. What is the 401(k) contribution limit in 2024?
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