Over 50 401k Contribution Limits 2024. You can contribute a maximum of $7,000 (up from $6,500 for 2023). Simple ira contribution limits 2024 irs elisha chelsea, for 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.

In 2023, the limits were $66,000, or $73,500 for people 50 and older. 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.