2024 401k Maximum Amount. To maximize contributions to a 401(k) plan, employees should aim to contribute the maximum allowable amount, considering annual contribution limits set by. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.

Workers who contribute to a 401(k), 403(b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase from the $22,500 limit in 2023. Those 50 and older will be able to.