2024 Max 401k Deduction Over 50 . Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. For 2024, the 401(k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.
You can contribute to more than one 401 (k). Savers will be able to contribute as much as $23,000 in 2024 to a 401(k), up from $22,500 in 2023, an increase of $500 from 2023.
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