401k 2024 Contribution Limit Over 50. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. The limit on employer and employee contributions is $69,000.

The ira catch‑up contribution limit for individuals aged 50 and older remains at $7,500 for 2024. Employees 50 or older can contribute up to $30,500 with catch.