401k 2024 Tax Year Limits Over 50. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. Employees can contribute up to $23,000 to their 401(k) plan for 2024 vs.

The irs sets the maximum that you and your employer can contribute to your 401(k) each year. This amount is up modestly from 2023, when the individual 401 (k) contribution limit.