Maximum 401k Contribution 2024 50+

Maximum 401k Contribution 2024 50+. Savers will be able to contribute as much as $23,000 in 2024 to a 401(k), up from $22,500 in 2023, an increase of $500 from 2023. The total contribution limit for both employee and employer contributions to 401(k) defined contribution plans under section 415(c)(1)(a) increased from $66,000 to $69,000 ($76,500 if age 50 or older).

You can contribute to more than one 401(k) plan. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024.