How much can I contribute to my 401(k)?

The IRS places two types of limits on annual contributions to employees' 401( k ) : limits on contributions by employees alone, and limits on the combined contributions (employee and employer).

Limits on Employee Contributions

In 2020, the pre-tax maximum annual contribution for employees is:

  • $19,500  if under 50.
  • $26,000  if over 50.

Employees can contribute as much (or as little) as they want, up to these limits.

If an employee has contributed to any other 401( k ) plan during the year, the employee is responsible for making sure their total  401( k ) contributions do not exceed the IRS limit. 

For more information, see IRS 401(k) Contribution Limits.

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