Annual 401k Contribution Limit 2024 Over 50. The 401(k) contribution limit is $23,000 in 2024. The annual contributions limit for traditional iras and roth iras was $7,000 for 2024, rising from $6,500 for 2023.
Savers will be able to contribute as much as $23,000 in 2024 to a 401(k), up from $22,500 in 2023, an increase of $500 from 2023. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year.