2024 401k Maximum Contribution Amount

2024 401k Maximum Contribution Amount. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax penalties.

For those with a 401 (k), 403 (b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. This number only includes personal contributions — employer matches.