What Is The Limit For 401k Contributions In 2024 Tax Year. Employees 50 or older can contribute up to $30,500 with catch. Workplace retirement plan contribution limits for 2024.

Workers who contribute to a 401(k), 403(b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase. The annual contributions limit for traditional iras and roth iras was $7,000 for 2024, rising from $6,500 for 2023.