Annual Roth 401k Contribution Limit 2024 Over 65
The 401 (k) contribution limit for 2024 is $23,000. This goes for employees covered by 403 (b) plans and most 457 plans, too.
Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024. Withdrawals made before 59 1/2 years may incur a 10% early withdrawal tax penalty, in addition to federal income.