Secure act 2.0 builds on the 2019 secure act and introduces several changes affecting the thrift savings plan (tsp). In 2024, employees under age 50 can contribute a maximum of $23,000 to their 401(k) plan.
Let’s say you happened to turn 50. The 401 (k) compensation limit.
So, Older Workers Can Put A Maximum Of $30,500 Into A.
Max 401k contribution 2024 over 50 catch up specifically, individuals who are at least 50 years old and earning.
The Dollar Limitation For Catch.
This dollar amount is the same as in 2023.
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Of Note, The 2024 Pretax Limit That Applies To Elective Deferrals To Irc Section 401 (K), 403 (B) And 457 (B) Plans Increased From $22,500 To $23,000.
This dollar amount is the same as in 2023.
The 401 (K) Compensation Limit.
The irs also sets limits on how much you and your employer combined can contribute to your 401.