Irs 401k Limits 2024 Catch Up. That means a total of $30,500 can be contributed. The internal revenue service (irs) raised the annual contribution limits for 2024 to $23,000, which amounts to a cost of living adjustment and is an increase from $22,500 in.

Those 50 and older can contribute an additional $7,500. Contribution maximums will increase from $22,500 to $23,000 for 401 (k), 403 (b) and most 457 plans, as well as the federal government’s thrift savings plan, the irs says.