Annual 401k Contribution Limit 2024 Over 50. This means that your total 401(k) contribution limit for 2024 is $30,500. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023.

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.