401k 2024 Limits Class.  — in 2024, the irs raised the limit for annual ira contributions to $23,000 for people under 50 and $30,500 for those 50 and older, a $500 increase from 2023. The contribution limits for individual retirement accounts (iras).

 — the 2024 contribution limit for 401 (k) plans is $23,000, up from $22,500 in 2023. See the limits for traditional 401 (k)s, roth 401 (k)s, employer contributions, and profit sharing.