Limits For 401k Contributions 2024 Over 55. The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024. For 2024, the limit for 401 (k) plan contributions is $23,000, up from $22,500 last year, according to the irs.

For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. 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.