Solo 401k Employee Contribution Limits 2024 Over 50

Solo 401k Employee 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,. For 2024, the solo 401(k) maximum contribution limit for the elective deferral is $23,000 if you’re age 50 and under.

Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. This is an increase of $500 from 2023.