2024 401k Contribution Maximum Tax. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.
Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase. The dollar limitation for catch.