2024 401k Catch Up Contribution Limit. If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up. For those with a 401(k), 403(b), or 457 plan through an employer, your new maximum contribution limit will go up to $23,000 in 2024.

That limit also applies to 457, 403(b) and the federal government’s thrift savings. Starting in 2025, the 401 (k) employee deferral limit will jump to $23,500, up from $23,000 in 2024.