401k Plan Limit 2024 Age 50 Or More. Employees age 50 and older are subject to a higher contribution limit with either type of contribution. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000.
In 2024, the maximum 401(k) contribution limit is $23,000 for people under the age of 50. The maximum an employee can contribute to 401 (k), 457, and 403 (b) plans increases from.