401k 2024 Tax Year Limits 2024.  — for the tax year 2024, the maximum amount that an employee can contribute to their 401 (k) retirement plan is $23,000. Older workers can defer paying income tax on as much as $30,500 in a 401 (k) plan in 2023.

Most people don’t max out their 401 (k). That is $500 more than you were allowed to contribute in 2023.