401k Contribution Limit For 2024 Over 50. For 2024, the limit for 401 (k) plan contributions is $23,000, up from $22,500 last year, according to the irs. Those 50 and older can contribute an additional $7,500.

Total 401 (k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024. The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024.