2024 401k Catch Up Contribution Limits Over 50. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023โs $22,500 to $23,000 for 2024. The contribution limit for simple 401(k)s is $16,000 (up to $19,500 if you're 50 or older).
The contribution limits for individual retirement accounts (iras) also increases. This dollar amount is the same as in 2023.