Hilary Linnell

2024 401k Max Contribution Catch Up. Case in point, for 2024, the 401(k) contribution limit is $23,000 for those under 50, and $30,500 for those older. If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up.

Employer matches don’t count toward this limit and can be quite generous. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.