2024 Max 401k Contribution 50 Year Olds Over 50. 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. 401(k) and 403(b) contribution limits increase.

Therefore, if you are over 50, your total 401k contribution limit for 2024 is $23,000 + $7,500. Below, we’ll break down the details on the new 2025 maximum 401k contribution limits as well as the current 2024 maximum 401k contribution limits as you can still contribute.