401k Contributions 2024 Max Age. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older). For 2024, your personal contributions cannot exceed $23,000 or $30,500 if you are age 50 or older.
Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023โs $22,500 to $23,000 for 2024. 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.