Over 50 401k Contribution Limits 2024 . — 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 from the $22,500 limit in 2023. You might have to pay a 10%.
That limit also applies to 457, 403 (b) and the federal government’s thrift. Going over the 401(k) contribution limit can lead to costly penalties.
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