2024 Max 401k Contribution 50 Year Olds. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from $22,500. This amount is up modestly from 2023, when the individual.

The base 2024 maximum 401k contribution limit for employees is $23,000 (+$500 versus 2023). 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.