2024 401k Contribution Limit Over 50

2024 401k Contribution Limit Over 50. The 401(k) contribution limits for 2023 sit at $22,500 for retirement savers under 50 and $30,000 for those 50 and over. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

You can contribute a maximum of $7,000 (up from $6,500 for 2023). For 2025, the 401(k) limit for employee salary deferrals is $23,500, which is above the 2024 401(k) limit of $23,000.