Annual 401k Limit 2024. Contributions to 401 (k)s can be automatically deducted from your. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.

For employer sponsored plans, including 401(k)s the 2024 contribution limits will jump to $23,000. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).