2024 401k Contribution Limits Over 55

2024 401k Contribution Limits Over 55. This amount is up modestly from 2024, when the individual 401 (k) contribution limit was $23,000, or $30,500 for employees who were 50 or older. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k) plans.

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