Max 401k And Ira Contribution 2024. The irs this week announced it was raising the 401 (k) contribution limit to $23,000, up from $22,500 currently. 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.

For 2024, individual contributions for those under 50 max out at $23,000 ($7,500 higher for those over 50). 401(k) and ira contribution limits are based on your age, income, and if you (or your spouse) have a plan at work.