401k 2024 Tax Year Limit 2024. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k). The 401(k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.

The 401(k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older. Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs.