401 Contribution Limits 2024. Those 50 and older can contribute an additional $7,500. The annual employee contribution limit for 401(k) retirement plans is increasing from $22,500 to $23,000 in 2024.

The annual contributions limit for traditional iras and roth iras was $7,000 for 2024, rising from $6,500 for 2023. For 2024, the 401 (k) limit for employee salary deferrals is $23,000, which is above the 2023 401 (k) limit of $22,500.