401k Contribution Limits 2024 Over 50 Years. For 2024, the 401 (k) contribution limit for employees is $23,000, or $30,500 if you are age 50 or older. The irs limits how much employees and employers can contribute to a 401 (k) each year.

The annual contribution limit for a roth ira for those under 50 is $7,000 for 2024, with an additional $1,000 catch up contribution if you’re age 50 or older. The limit on combined employee and employer contributions is $69,000, up from $66,000 in 2023.