401k 2024 Catch Up Contribution Limit Irs

401k 2024 Catch Up Contribution Limit Irs. Employees can contribute up to $23,500 to their 401 (k) plan for 2025 vs. The internal revenue service (irs) maximum contribution limits to your peach state reserves (psr) 401(k) and 457 plans for 2024 will increase for 2025.

Mary, age 49, whose annual compensation is $360,000 ($30,000 per month), elects to defer $1,500 per calendar month, up to $19,000 for the 2019 year. In 2024, you’re able to contribute an additional $7,500 to a 401 (k) each year, so long as you’ve made your contributions by the end of the calendar year.