Solo 401 K Contribution Limits 2024 Over 55. The irs sets various limits for retirement plans, including 401 (k)s. 401(k) contribution limits for 2024 since the inflation rate is relatively high, the 401(k) contribution limit’s bump from 2023 to 2024 is larger than what we’re used to.
For 2024, the solo 401(k) maximum contribution limit for the elective deferral is $23,000 if you’re age 50 and under. Those 50 and older can contribute an additional $7,500.
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