401k Limits 2024 Catch Up Over 60. Be an active participant in an eligible retirement plan. If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up.

The 401(k) contribution limit for 2024 is $23,000 for employee salary deferrals, and $69,000 for the combined employee and employer. The irs updated the 401(k) contribution limits for 2025 and now allows people between 60 and 63 to save an additional $15,000 over four years.