401k Max Contribution 2024 For People Over 50. The total maximum allowable contribution to a defined contribution plan (including both employee and employer contributions) is expected to rise by $2,000. You're only allowed to set aside up to $7,000 in 2024 or $8,000 if you're 50 or older.
If i have a 401(k), can i receive a saverโs tax credit?. This goes for employees covered by 403 (b) plans and most 457 plans, too.