Jonie Latrina

401k Max Contribution 2024 Over 55. In 2024, people under age 50 can contribute.  — the contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.

 — the basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023). Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.