401k 2024 Tax Year Limit Over 50. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. Starting in 2024, employees can contribute up to $23,000 into their 401(k), 403(b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov.

Those 50 and older can contribute an additional $7,500. This means that your total 401(k) contribution limit for 2024 is $30,500.