401k Limits For 2024 Over Age 50022 Over 55. You’re allowed to make what are called “catch up contributions” to your 401(k), 403(b), and 457 plans,. Beginning in 2024, workers will be allowed to contribute up to $23,000 to their 401 (k), an increase of $500 from this year.

For 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000. However, you cannot quit your job.