Maximum 401k Contribution 2024 Over 55. The 401 (k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. The contribution limit for 401(k)s, 403(b)s, most 457 plans and the federal government's thrift savings plan is $23,000 for 2024, up from $22,500 in 2023.
Employees age 50 or older may contribute up to an additional $7,500 for a total of $30,500. The contribution limits for individual retirement accounts (iras) also increases from $6,500 to $7,000.