2024 401k Contribution Limit Over 50

2024 401k Contribution Limit Over 50. For those with a 401 (k), 403 (b), or 457 plan through an employer, your new maximum contribution limit will go up to $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.

If you are 50 or older, your personal contribution limit is $30,500—the catchup contribution remains at $1,000, same as last year. This amount is an increase of.