2024 401k Contribution. If you’re eligible to make catch. One factor to consider when contributing to a 401k savings plan is the contribution limit (the maximum amount of money you can put in your 401k for a given year) set by the irs.

For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. Altogether, the most that can be contributed to your 401 (k) plan between both you and your employer is $69,000 in 2024, up from $66,000 in 2023.