Maximum Annual 401k Contribution 2024

Maximum Annual 401k Contribution 2024. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older).

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. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).