2024 Limits On 401k Contributions For Age 50. 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. The basic employee contribution limit for 2024 is $23,000 ($22,500 for 2023).

Learn about the 2024 contribution limits for different retirement savings plans. The contribution limit can be as high as $30,500 in 2024, if you are age 50 or older (it was $30,000 in 2023).