401k Contribution Limits 2024 After Tax Calculator. Funds withdrawn from your plan before age 59 1/2 are taxed as ordinary income and you may have to pay a 10% federal tax penalty for early withdrawal. This rate chart covers amendment by finance.

 — 401 (k) contribution limits should continue their upward climb in 2024, according to a recent projection by mercer. The irs sets the maximum that you and your employer can contribute to your 401 (k) each year.