2024 Max 401k Contribution 50 Year Olds Over 65. If you’re age 50 or older, you can contribute up to $30,500 to both the 403(b) plan and a governmental 457(b) plan (if the plan allows) for a maximum 2023 contribution of. The overall 401(k) limits for employee and employer.

This amount is up modestly from 2023, when the individual 401(k). Maxing out your 401(k) means contributing up to your annual contribution limit for the year.