401 K Catch Up Contribution Limits 2024 Over 55. The 401k contribution limits for the year 2025 are expected to see many increases in different plans including elective deferral limit to $24,000, defined. The 401 (k) contribution limit for 2023 is $22,500 for employee contributions and $66,000 for combined employee and employer contributions.
Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase. Older workers can defer paying income tax on as much as $30,500 in a 401 (k) plan in 2023.
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