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Understanding 401(k) contribution limits can be confusing even sometimes overwhelming. They are, however, essential to know. Below is a break down of important contribution limits that help employees determine whether their savings are on track or if there is an opportunity to catch up. The annual contribution limit is a great goal to keep in mind. It also encourages individuals who are able to defer additional funds into retirement savings to take advantage of doing so. 2024 2023 2022 Employee Contribution Limit $23,000 $22,500 $20,500 Employee Catch-Up Contribution (For employees aged 50 and...