Solo 401k Contribution Limits 2024 Over 50

Solo 401k Contribution Limits 2024 Over 50. The total contribution limit for a solo 401 (k) as both employer and employee is $66,000 for 2023, and $69,000 for 2024, or 25% of your adjusted gross income, whichever is lower. Employees can contribute up to $23,000 to their 401 (k) plan for 2024 vs.

For 2024, you can contribute up to $23,000 to a 401 (k) if you’re under 50 and up to $30,500 if you are 50 or older. If you are 50 years old or older, the maximum contribution limit went from $73,500 in 2023 to.