2024 Contribution Limits 401k And Ira

2024 Contribution Limits 401k And Ira. Retirement savers are eligible to put $500 more in a 401(k) plan in 2024: Those 50 and older can contribute an additional $7,500.

For individual retirement accounts, or iras—both roth and traditional types —2024 contributions will max out at $7,000, up from $6,500 in 2023. Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for.