2024 401k Catch Up Contribution Limit

2024 401k Catch Up Contribution Limit. The limit on annual contributions to an ira increased to $7,000 (up from $6,500), and while the ira catch up contribution limit for individuals aged 50 and over. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024.

For 2024, the maximum you can contribute from your paycheck to a 401 (k) is $23,000. The annual elective deferral limit for 401 (k) plan employee contributions is increased to $23,000 in 2024.