401k Annual Limit 2024. Employees age 50 and older can contribute an additional $7,500 for a total. The irs announced friday an increase to the annual individual contribution limit for 401 (k) plans to $23,500 for 2025.

Most people don’t max out their 401(k). On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k) plans.