401k Max Contribution 2024 Over 55

401k Max Contribution 2024 Over 55. For 2024, the maximum allowable contribution to a 401 (k) is $23,000 per year (up from $22,500 in 2023). 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.

Employer matches don’t count toward this limit and can be quite generous. That compares with the $500 boost seen in 2024 over 2023.