401k Contributions 2024 Limits Over 60. 401 (k) contribution limits for 2024. The 401k contribution limits for the year 2025 are expected to see many increases in different plans including elective deferral limit to $24,000, defined.
For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. 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.
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