2024 Max 401k Contribution 50 Year Olds

2024 Max 401k Contribution 50 Year Olds. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. Those 50 and older can contribute an additional $7,500.

Generally, you have to be 59 ½ years old to start taking distributions from your 401(k). Each year, the 401(k) contribution limits increase by a small amount.