2024 401k Contribution Limit Catch Up Over 50. If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up. Let’s say you happened to turn 50 on december.

The limit on employer and employee contributions is $69,000. 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.