401k Contribution Limits 2024 Catch Up Total Contribution. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. So people 50 and older can invest.
Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401(k), 403(b) and 457(b) plans increased from $22,500 to $23,000. In 2024, employers and employees together can contribute up to $69,000, up from a limit of $66,000 in 2023.