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401k Limits 2024 Over 60. Here's how the 401(k) plan limits will change in 2024: If you roll a 401 (k) balance over to a traditional ira, you’ll have to wait until you are at least 59 1/2 years old to avoid a 10% early withdrawal penalty.

This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase from the 2023 tax. This amount is up modestly from.