2024 401k Contribution Limit Catch Up Date. The 2024 contribution limit for 401(k) plans is $23,000, up from $22,500 in 2023. 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.

Total 401(k) plan contributions by an employee and an employer cannot exceed $69,000 in 2024. Workers ages 50 and older have a higher annual 401 (k) contribution limit than their younger peers.