401k Limits 2024 Catch Up Over 55

401k Limits 2024 Catch Up Over 55. This amount is up modestly from 2024, when the individual 401 (k) contribution limit was $23,000, or $30,500 for employees who were 50 or older. The internal revenue service announced that the maximum amount individuals can contribute to their 401(k) or similar plans in 2025 will increase to $23,500, up from $23,000.

So, these taxpayers can still contribute an additional $7,500. This means that your total 401(k) contribution limit for 2024 is $30,500.