401k Contribution Limits 2024 Rothwal. The 401(k) contribution limit for 2024 is $23,000 for employee contributions, and $69,000 for the combined employee and employer contributions. In 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023.

The internal revenue service sets the maximum amount you and your employer can contribute to your 401(k), and that number increases in 2024. 401(k) plans are also subject to several contribution limits.