529 Plan Limits 2024 Michigan. As of january 1, 2024, when you discover you have extra money in your child’s 529 plan, there is a fourth option to select from. However, each state sets its lifetime contribution limit for 529 accounts per beneficiary, typically ranging from $235,000 to more than $550,000.

529 plans have aggregate limits, the total amount you can contribute to the account per beneficiary. There are no yearly 529 plan contribution limits, as there are with many retirement accounts.