2024 401k Max Contribution Catch Up Over 50. — the irs has officially announced the 401k and ira contribution limits for the year 2024. — in 2024, you’re able to contribute an additional $7,500 to a 401 (k) each year, so long as you’ve made your contributions by the end of the calendar year.
401(k) accounts have far bigger contribution limits. — the 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.