Limits For 401k Contributions 2024 Over 55. Learn how much you can contribute to your 401 (k) plan in 2023 and 2024, and how the irs adjusts the limits annually for inflation. The 2023 individual 401(k) contribution limit is $22,500, up $2,000 from 2022.

For 2024, the limit for 401(k) plan contributions is $23,000,. Starter 401(k) plans are new in 2024, and were created to encourage more employers to offer retirement benefits to their employees.