401k Contribution Limits 2024 Over 55. For 2024, the 401 (k) annual contribution limit is $23,000, up from $22,500 in 2023. Eligible individuals who are 55 or older by the end of the tax year can increase their contribution limit up to $1,000 a year.
The maximum contribution to a 401(k) plan is $23,000 in 2024 if you are younger than 50 years old. Here’s how the 401(k) plan limits will change in 2024: