401k 2024 Maximum Contribution Limit India

401k 2024 Maximum Contribution Limit India. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax penalties. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

Contribution maximums will increase from $22,500 to $23,000 for 401 (k), 403 (b) and most 457 plans, as well as the federal government’s thrift savings plan, the irs says. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.