2024 401k Contribution Maximum Over 50

2024 401k Contribution Maximum Over 50. The 401 (k) compensation limit is $345,000. You can contribute to more than one.

The 401(k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. 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.