401 K Maximum 2024 Catch Up
401 K Maximum 2024 Catch Up . According to the irs, the 2024 simple 401k contribution limit is $16,000, an increase of $500 from the $15,500 limit for 2023. Here's how the 401 (k) plan limits will change in 2024:
Those 50 and older can contribute an additional $7,500. โ many employers offer a 401 (k) match, which is essentially free money added to your retirement savings.
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