Max 401k Contribution 2024 Including Employer Identification
Max 401k Contribution 2024 Including Employer Identification. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. Simple 401(k) plan contributions max out at $16,000 for the 2024 tax year.
Some employees’ compensation will exceed the annual compensation limit this year. The total overall 401(k) contribution limit for 2024, which includes employer matching contributions and nonelective contributions, is $69,000.
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