Solo 401k Contribution Limits 2024 Calculator. A solo 401 (k) is an extremely powerful tool for sole proprietors and partners in small businesses to shift assets into tax sheltered retirement. Starter 401(k) plans are new in 2024, and were created to encourage more employers to offer retirement benefits to their employees.
Those 50 and older can contribute an additional $7,500. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.
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