2024 401k Limits Chart Over 50. Contributions to 401 (k)s can be automatically deducted from your paycheck. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500.

The 401 (k) contribution limit for individuals has been increased to $23,000 for 2024. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).