Irs 401k Limits 2024 Catch Up Age. 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. So, according to the contribution limits for a 401 (k), after age 50, you could contribute a total of $30,500 to a 401 (k) each year.
For 2024, the maximum you can contribute to a simple 401 (k) is $16,000. For those who are age 50 or over at any time during the year, the.
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