Maximum Company Match 401k 2024. Employers can only use the first $345,000 of compensation to determine your 401 (k). That is $500 more than you were allowed to contribute in.
That is $500 more than you were allowed to contribute in. However, your company can only match you up to 5% of $345,000, the maximum employee compensation limit for 2024.
For The Tax Year 2024, The Maximum Amount That An Employee Can Contribute To Their 401(K) Retirement Plan Is $23,000.
Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.
If You're Under 50, The Maximum You Can Contribute To Your 401(K) In 2024 Is $23,000.
If you’re 50 or older, the maximum is $30,500.
Maximum Company Match 401k 2024 Images References :
This Is An Increase Of $500 From 2023.
Note that any employer match doesn't count toward an individual's 401 (k) annual contribution limit ($23,000 in 2024 or $30,500 for those 50 and up).
401(K) Contribution Limits In 2023 And 2024.
Employers can only use the first $345,000 of compensation to determine your 401 (k).