2024 401k Contributions Limits Over 50. This means that your total 401(k) contribution limit for 2024 is. The irs revisits these numbers annually and, if necessary, adjusts them for inflation.
The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 tax year was $7,000 or $8,000 if you were age 50 or older. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $8,000.