Employee 401k Contribution Limits 2024. Personal contribution limits for 401 (k) plans increased in 2024 to $23,000—up $500 from $22,500 in 2023—for people under age 50. Those 50 and older can contribute an additional.

The 2024 limit on 401 (k) contributions is $23,000, or $30,500 for people 50 and older. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.