401k Contribution Limits 2024 Over 60. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to.

The 2022 contribution limit for a simple ira or 401(k), which are retirement plans designed for small businesses with 100 or fewer employees, is $14,000 ($15,500 for 2023). Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000.