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The maximum catch-up amount allowed for 401k contributions in 2016 was 6,000.
The deadline for making catch-up 401k contributions for the year 2023 is December 31st of that year.
The maximum catch-up contribution allowed for a 401k plan in 2023 is 6,500 for individuals aged 50 and older.
Maximum 401k contribution over 50 includes both the general contribution limit and the catch-up contribution, which has increased for . Maximum 401k contribution over 50 includes both the general contribution limit and the catch-up contribution, which has increased for .
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The maximum pre-tax contribution to the 401k is $16,500. If you're over the age of 50 you're able to contribute an additional $5,500 as a catch-up contribution.
The maximum contribution limit for a 401k in 2016 was 18,000. However, individuals aged 50 and older could contribute an additional 6,000 as a catch-up contribution, making their total contribution limit 24,000.
The option works as follows assuming you are age 50 or older. You make make an extra $5,500 pretax contribution to your 401k plan on top of your regular pretax contribution limit.
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For IRAs, those 50 years of age and older can contribute $6000, while those under 50 only $5000. For 401k, those 50 and older can contribute $20,500, while those under 50 only $15,500. In 2009, both numbers will be indexed to inflation and increase in $500 increments.
Catch-up 401(k) contributions for the year 2015 must be made by the end of the calendar year or by the tax filing deadline, usually April 15 of the following year. The maximum catch-up contribution limit for 2015 is 6,000 for individuals aged 50 and older.