Maximum 401k Contribution 2024 Over 55. The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024. The normal contribution limit for elective deferrals to a 457 deferred compensation plan is increased to $23,000 in 2024.

Savers will be able to contribute as much as $23,000. This is because employers can either make a matching contribution of up to.