401k Contribution Limits 2024 Catch Up Total Amount. The 401 (k) individual contribution limit in 2024 is $23,000 ($30,500 in individual contributions if you are 50 or older). As of 2023, individual employees have a 401 (k) contribution limit of $22,500, allowing them to contribute this amount annually to their 401 (k) account on a.

Starting at age 73 in 2024 (rmd age moving to 75 in 2033), the law says you must take a certain amount of money out annually, and it’s based on how the irs sees your life. The agency also boosted the contribution maximums for iras and lifted the limit to $7,000 for 2024, up from $6,500 in 2022.