2024 401k Limits Chart Over 50. The limit on annual contributions to an ira increased to $7,000, up from $6,500. 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.

In 2024, the irs limits the amount of compensation eligible for 401(k) contributions to $345,000. This deadline also applies to participants who are 50 or.