The maximum that an individual 49 years of age or younger can invest annually into their 401(k) plan during 2024 is $23,000. If they attain the age of 50 during 2023 or are older, they may contribute an additional "catch-up" amount of $7,500 for a total employee contribution of $30,500 in 2024. The maximum amounts are per individual and not per retirement plan the individual has access to. Meaning if you work for another employer and HCA Healthcare, your total limits are still $23,000 or $30,500.
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