The maximum contribution limit for a retirement plan depends on the type of plan and your age. For 2024, the contribution limit for 401(k) plans is $20,500 for individuals under 50 years old, and $27,000 for those 50 and older due to catch-up contributions. For traditional and Roth IRAs, the contribution limit is $6,000 for individuals under 50 and $7,000 for those 50 and older. These limits are subject to change based on IRS regulations and may vary for different types of retirement plans. It's important to stay updated on the current limits to make the most of your retirement savings opportunities. Contributions to retirement plans can offer tax advantages and help individuals build a secure financial future.