401k Catch Up Contribution Limit 2024 Over 50. The limit on annual contributions to an ira increased to $7,000 (up from $6,500), and while the ira catch up contribution limit for individuals aged 50 and over. The 401 (k) compensation limit is $345,000.

Of note, the 2024 pretax limit that applies to elective deferrals to irc section 401 (k), 403 (b) and 457 (b) plans increased from $22,500 to $23,000. There are annual limits to how much you can contribute to your 401 (k).