401k 2024 Contribution Limit Irs Over 50

401k 2024 Contribution Limit Irs Over 50. The limit on annual contributions to an ira increased to $7,000, up from $6,500. This means that your total 401(k) contribution limit for 2024 is $30,500.

Starting in 2024, employees can contribute up to $23,000 into their 401 (k), 403 (b), most 457 plans or the thrift savings plan for federal employees, the irs announced nov. That means a total of $30,500 can be contributed.