401 K Plan Contribution Limits 2024 Over 55. The total maximum that can be tucked away in your 401(k) plan, including employer contributions and allocations of forfeiture, is $76,500 in 2024, or $7,500 more than the $69,000 maximum. The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024.
The irs has increased the contribution limit for 401 (k) plans for 2024 so individuals can now contribute up to $23,000. Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024.
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