What Is The Max 401k Contribution For 2020. For 2020, the maximum allowed to be contributed into your 401k has increased from $56,000 to $57,000 (or 100% of income, whichever is greater) with minimum $1,000 increases thereafter. The maximum amount workers can contribute to a 401 (k) for 2020 is $500 higher than it was in 2019 —it's now up to $19,500 if you're younger than age 50.
Most people don’t max out their 401(k). For 2020, the maximum allowed to be contributed into your 401k has increased from $56,000 to $57,000 (or 100% of income, whichever is greater) with minimum $1,000 increases thereafter.