@ansettax wrote:
Hi I have the same question as the op. I worked for one company at the beginning of 2024 and now I'm working with another one. I've received about $20K with company A and another $10K with company B. Both are to Roth 401k accounts. Both are a mix of contributions and matches. Is that exceeding the limit? I read on various web sites that "The most you and your employer can contribute together is $69,000 for 2024". How does that work? Does the IRS distinguish between my contribution and employer match?
Firstly, the company match must go in a pre-tax account, it can't go in an after-tax or Roth designated account. So check that.
Second, there are two limits. Your voluntary salary deferrals can't be more than $23,000 (or $30,500 if you are over age 50) AND the total of all contributions (including salary deferrals and employer contributions) can't be more than $69,000.
