Annual 401k Contribution Limit 2024. Employees age 50 and older can contribute an additional $7,500 for a total of $31,000. For 2025, the 401(k) contribution limit for employees is $23,500, or $31,000 if you are age 50 or older.

The annual employee contribution limit for 401(k) retirement plans is increasing from $22,500 to $23,000 in 2024. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira.