2024 401k Limits Over 55. Employees can invest more money into 401(k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024. 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.
This year the irs announced there will be an increase to the maximum employee 401 (k) contribution limit for 2024, increasing it to $23,000, a $500 increase. The irs just announced that 401 (k) limits are rising in 2024.