2024 401k Contribution Limits 2024 Over 50. In 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023. Employees 50 or older can contribute up to $30,500 with catch.

In 2022, the most you can contribute to a roth 401(k) and contribute in pretax contributions to a traditional 401(k) is $20,500. The limit on employer and employee contributions is $69,000.