2024 401k Contribution Limit Catch Up. If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up. In 2024, the maximum 401(k) contribution limit is $23,000 for people under the age of 50.

Let’s say you happened to turn 50. The annual employee contribution limit for 401(k) retirement plans is increasing from $22,500 to $23,000 in 2024.