Max 401k 2024 For Over 50. As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a. For 2024, the limit for 401 (k) plan contributions is $23,000, up from $22,500 last year, according to the irs.

So if you’re under 50 and you contribute the maximum $23,000 to your 401(k) in 2024, your employer is able to contribute a maximum of $46,000 on your behalf. Employees 50 or older can contribute up to $30,500 with catch.