Irs Annual 401k Contribution Limit 2024. 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. The total employee contribution limit to all 401(k) and 403(b) plans for those under 50 will be going up from $22,500 in 2023 to $23,000 in 2024 (compare that to the $2,000 it increased from 2022 to 2023).

The limit on annual contributions to an ira increased to $7,000, up from $6,500, the irs said. More people will be able to make contributions to roth ira accounts, too.