2024 401k Max Catch Up Contribution. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. The catch up contribution is only available to those employees age 50 and older who are trying to “catch up” for retirement in their latter years.

For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024. The 401(k) compensation limit is $345,000.