what is the total amount that can be contributed to a 401k
As a result, if you are 50 or older, you can contribute a maximum of $24,000 into these tax-advantaged accounts. Thatâs up from a total of $23,000 in 2014. The total contribution limit, including employer contributions, has increased from $52,000 to $53,000.The benefits of a 401(k) plan are designed to be directed primarily at people who most need an incentive to save for retirement.hatâs up from a total of $23,000 in 2014. The total contribution limit, including employer contributions, has increased from $52,000 to $53,000. The benefits of a 401(k) plan are designed to be directed primarily at people who most need an incentive to save for retirement.