401K contribution limits for 2010 are $16,500 for employees. Employer contributions are limited to 6% of the employee’s pre-tax compensation under the 401k rules.  If you are 50 and older, you can contribute an addition $5,500 for a total of $22,000.

For example, if you earned $100,000, you could contribute a maximum of $16,500 in 2010 before taxes and your employer could contribute up to another $6,000 for a total of $22,500 in money going into your 401K. Those are the 401K limits for people under 50.

Let’s assume that you are over the age of 50. You could contribute the maximum of $16,500 plus an additional $5,500 bringing the total of $22,000 contributed on a pre-tax basis according to the 401k rules.  If your employer also contributed the maximum of $6,000, you could have a total of $28,000 put into your account in one year. Those are the 401K limits for people over 50.