401k 2024 Limits Over 50

401k 2024 Limits Over 50. Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. The annual employee contribution limit for 401 (k) retirement plans is increasing from $22,500 to $23,000 in 2024.

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. 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.