Over 50 401k Contribution Limits 2024. The ira catch‑up contribution limit for individuals aged 50. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase from the $22,500 limit in 2023.

The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. 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.