2024 401k Limits Contribution For 2024. Employees age 50 and older can contribute an additional $7,500 for a total. The 401 (k) contribution limit is the maximum amount an individual can contribute to their 401 (k) retirement account in a calendar year without facing tax penalties.
It will go up by $500 to $23,500 in 2025. For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000.