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Retirement tax questions
It depends. Since this is an employer plan contact your trustee, ask them and they will tell you how to withdraw excess. But normally, the limits are as follows:
- In 2023, the most you can contribute to a Roth 401(k) and contribute in pretax contributions to a traditional 401(k) is $22,500.
- In 2024, this rises to $23,000. Those 50 and older can contribute an additional $7,500 in 2023 and 2024.
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‎January 30, 2024
11:49 AM