2024 Max 401k Deductions From Paycheck

2024 Max 401k Deductions From Paycheck. 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. For those who are 50 and older, it's possible to make an.

For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000. Use this calculator to see how increasing your contributions to a 401(k) can affect your paycheck as well as your retirement savings.