401k Contribution Limits 2024 50 And Older. The 2024 contribution limits allow you to save an extra $7,500 in your 401(k) if you're 50 or older. 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. Employees will be able to sock away more money into their 401 (k)s next year.