what is the maximum you can contribute to a 401 k 
the most you can contribute to a 401 k in 2024 is 23 000 if you re under age 50 if you re age 50 or older you have the option to make a catch up contribution of up to 7 500 for 2023 you can contribute up to 22 500 if you re under age 50 the catch up contribution limit is still 7 500 the bottom lineoften employers and executives will agree on a set period that the income will be deferred which could be anywhere from five years up until retirement ultimately the deferred income has the ability to grow tax deferred until it is distributed these deferral amounts may change from year to year depending on the agreement between the executive and employer 