Max 401k 2024 Over 50. Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. Savers will be able to contribute as much as $23,000 in 2024 to a 401(k), up from $22,500 in 2023, an increase of $500 from 2023.

The average 401(k) balance is $112,572, according to vanguard’s 2023 analysis of over 5 million plans. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older.