2024 401k Max Contribution Amounts By State

2024 401k Max Contribution Amounts By State. 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. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.

Some retirement plans have lower limits, so. The contribution limit for 401 (k)s, 403 (b)s, most 457 plans and the federal government’s thrift savings plan is $23,000 for 2024, up from $22,500 in 2023.