Mega Backdoor Roth Limit 2024 Limit. The overall contribution limit for a 401(k) in 2024 is $23,000 for individuals under 50 years old and $30,500 for those aged 50 and above. In 2024, the total dollars allowable into a 401(k) is $69,000 if you’re under 50 and $76,500 if you’re 50 or older.

How does the microsoft 401(k) and mega backdoor roth work? In 2024, a participant can contribute up to $23,000, which is up from $22,500 in 2023 ($30,500 and $30,000 for people 50 and over in 2024 and 2023, respectively) in pretax compensation and as.