Maximum 401k Contribution 2024 Per Person Over 65. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you're 50 or older). This amount is up modestly from 2023, when the individual.

In 2024, the 401 (k) contribution limit for participants is increasing to $23,000, up from $22,500 in 2023. The 401 (k) contribution limit for 2024 is $23,000.