401k 2024 Contribution Limit Irs Over 50

401k 2024 Contribution Limit Irs Over 50. The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira. This dollar amount is the same as in 2023.

The irs this week announced it was raising the 401 (k) contribution limit to $23,000, up from $22,500 currently. The limit on annual contributions to an ira increased to $7,000, up from $6,500.