401(k) regular contribution after 50

taxqn24 · ‎March 14, 2025

Via regular payroll deductions my total 401(k) contribution is about 25K. As somebody that turned 50 this year, my understanding is that this amount is fine as it is below regular (23.5K) + catchup (7.5k) limit. Is this correct?

MarilynG1 · ‎March 14, 2025

Yes, If you're employed, you can make 401(k) contributions up to $23,000 in 2024, with an extra $7,500 in catch-up contributions if you're 50 years old or older. In addition, some employers offer matching contributions.

Here's more info Retirement Plans.

@taxqn24

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View solution in original post

MarilynG1 · ‎March 14, 2025

Yes, If you're employed, you can make 401(k) contributions up to $23,000 in 2024, with an extra $7,500 in catch-up contributions if you're 50 years old or older. In addition, some employers offer matching contributions.

Here's more info Retirement Plans.

@taxqn24

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"